E&P Business Transformation: Reserves – Technology – Information {RTI} Strategy

This is a Preprint and has not been peer reviewed.

Downloads

Download Preprint

Authors

Srikanth Guruswamy 

Abstract

Reserves (R)– make and break E&P companies. Its value and reliability are THE most valuable asset. The reserves hopper – evolution from Resources to Reserves needs maximum management focus all over. Management stage-gates to reserves maturity are necessary and sufficient for good governance.
Technology (T)– is a wide array of methods providing variable assessment of reserves. KPI of technology is assessed from the quantum and reliability of reserves. Value of Information (VoI) from technology is measurable through its impact on reserves.
Information (I)– is not IT department function. Technologies create conforming, conflicting and contradicting information about reserves. Best of Computer Science methods are needed to assimilate the data and drive information --> knowledge and --> wisdom in developing E&P business. Information strategy is the foundation for developing the Technology into 4th Paradigm of Science.
Reserves accrue from Technology through robust Information.
These 3 dimensions {R-T-I} are brought forward into a E&P business management model as necessary and sufficient factors for success. The business performance metrics are simplified using these 3 dimensions and entire organizational stage-gates are mapped to reserves maturity.

DOI

https://doi.org/10.31223/osf.io/426nm

Subjects

Engineering, Other Engineering

Keywords

Business Performance, Business Process, Business Transformation, Computer Science, E&P, Exploration & Production, Information maturity, Petroleum, Reserves

Dates

Published: 2019-08-06 20:50

Last Updated: 2019-08-07 07:15

Older Versions
License

Academic Free License (AFL) 3.0

Add a Comment

You must log in to post a comment.


Comments

There are no comments or no comments have been made public for this article.