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>Enhancing,Safeguarding Optimizing Non-Operated Joint Venture AssetOperations through Operational Excellence and Performance Assessments
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Enhancing,Safeguarding Optimizing Non-Operated Joint Venture AssetOperations through Operational Excellence and Performance Assessments
Joint ventures have become the norm in today's oil and gas industry.Whether its dictated by host countriesor partnerships to reduce liability and benefit from cost reductions,it presents the non-operators of the jointventure a unique situation especially in the post Macondo era.This paper aims to deliver an approach forNOJV companies to safeguard their assets as well as maximize their value by actively collaborating withthe Operator to enhance and optimize asset management through operational excellence and performanceassessments.Based on KUFPEC's vision and strategy we designed an NOJV process to conduct specific and/orcomprehensive focused operational excellence & performance assessments on select assets in order tooptimize and enhance asset operations,ensure stable production,with the end goal of maximizing the valueof the asset in our NOJV portfolio.The selection of the asset is based on a variety of factors not limited toworking interest,risk,size,production output,OPEX,and geographical location.The focus areas targetedwere Facilities Integrity Management,Drilling Activities & Well Interventions,Health,Safety,Securityand Environment (HSSE),Process Safety Management,and Reservoir Management.These assessmentsrequired reviewing the Operator's management system,asset specific technical,production,and incidentdata,along with any other pertinent documentation.Following the review,a site visit is conducted to witnessfirsthand all operations related to the asset,both onshore and offshore including drilling and logisticaloperations and visits to fabrication yards.At the conclusion of the assessment and visit,a closeout sessionwould be held with the Operator's Management Team to go over the findings.Kuwait Foreign Petroleum Exploration Company (KUFPEC) has conducted major assessments acrossits assets offshore Indonesia and Malaysia and onshore Pakistan.The assessments varied in scope as well asfindings.A summary of the findings is shared later to provide value adding observations pertaining to eachfocus area.In addition,we have provided case studies to illustrate how our efforts and influencing strategypaved the way for the Operator to willfully accept and address our areas of concern specifically integritymanagement,which in turn supported our mutual objectives of ensuring safe and reliable productionoperations,while maximizing the value of the asset.This paper will provide an innovative value adding approach,successes and lessons learned to enhanceand optimize NOJV assets through effective engagement of the Operator utilizing an influence strategy to achieve a win-win result.By doing so,KUFPEC became a value adding NOJV partner,enhancing its overallasset management performance,controlling costs and becoming actively involved as part of its strategy ofbeing a partner of choice recognized for its contributions to the NOJV.
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