In the past few years, low oil prices had sanctioned almost every large Exploration and Production (E&P) projects in the oil and gas industry. Today, with the recent recovery of oil prices, most oil and gas companies are starting to see light at the end of the tunnel and preparing to ramp up their investments to either maintain or grow output. Yet, despite the increasing investment in E&P projects, companies are facing tougher contracting and more intense global competition. Any slight delay or budget overrun in a project can easily turn profit into loss. To improve performance and reduce risk of cost and schedule overruns, companies must leverage effective project management tools and best practices at the outset of a project to improve productivity and reduce uncertainty.
Efficient Management of the Design Spiral is key to E&P Project Performance
Delivering capital and brownfield oil and gas projects on time, on budget and to the highest standards demands the ability to control and manage changes as the design iterates through progressive refinement and detailing. This requires a collaborative digital environment that enables all the engineering and design disciplines to respond to multi-discipline changes in an ordered and organised manner. Any construction reworks due to bad quality of deliverables from Engineering and Design phases can result in huge overspend in a capital project, impacting the bottom line.
In this webinar, Henrik and Brian will outline the importance of an integrated platform to streamline project execution from design to construction and handover, highlight customer use cases - FPSO, Gas processing plants and others- and demonstrate how the digital platform improves collaboration and reduces wastes and reworks, enabling companies to deliver their projects on time and schedule in this competitive environment.
- Reduce Project Cost and Schedule
- Improve Engineering Efficiency with fewer design iterations
- Reduce Project Risks with clear visibility of progress against plan
- High ROI with significant reduction in Total Installed Cost by up to 10%