Deepwater Well Project and Risk Management
The key objectives for this course are to highlight the critical project and risk management issues involved in a deepwater well project to achieve the project mission: delivering value safely, responsibly and efficiently.
At the end of the course, participants will understand the key issues and principles in deepwater project management, they will develop an understanding of the challenges, choices, and compromises necessary to drill deepwater wells.
They will be able to apply these principles in practice as members of a project team to optimize the management of the well project, and to identify and manage risks to maximize value. Following the deepwater well project management process from prospect evaluation through operations and close out, participants will develop key skills needed to drill wells in a deepwater environment.
Deepwater Well Project and Risk Management Principles
- Deepwater challenges: how the deepwater setting offers challenges different from wells onshore or in shallow water.
- Project Management Principles
- The Stage Gate Process: how this is used to create value through choice, make the right decisions at the right time, optimize resources, and ensure that the outcome achieves the mission.
- Cost vs value: ensures that the differences between price, cost, and value are understood
- Management systems: how standards are set, changes are managed, compliance is assured, and learning takes place
- Team selection: how to ensure that the team is competent, and that key stakeholders are identified and interfaces managed
- Risk management principles; hazards, risk, risk management
- The project plan: clarity on mission, objectives, and value
- Time and cost estimation: understanding and reflecting uncertainty in realistic estimates
- Management of Change: the challenge of ensuring value – decisions not decision trees
- Contracting: selecting the right contracting approach for different services and materials
- Supply chain, logistics, and operations base: getting materials and services to the well at the right time cost-effectively
- Financial management: funding and accounting
- Management review: how to ensure that audits and management interface assures safe and responsible delivery of the project mission
Tracking Progress, Well Planning, and Operations
- Well PM software and Key Performance Indicators (KPIs): monitoring the project using value-focussed KPIs; discussion of PM software, management reports, continuous improvement, benchmarking, technical limit, and KPIs
- Task progress and phase close out: ensuring early identification of potential differences in outturn time or cost to permit value-based decisions
- Well planning - Pre-drill data requirements: the site survey and shallow hazard analysis, and how this sets the stage for success
- Rig selection: on the basis of hull type, station-keeping, generation, market, crew competence, and management system
- Riser and conductor design, shallow hazards: well construction in the top hole sections
- Casing programme and the mud density window: how the deepwater setting affects well design and how this is managed
Operations Management and Risk Management in Action
- Contingency plans: ensuring that these are complete and meaningful
- Emergency response: how this fourth element of process safety is assured.
- Operations management: applying decision-making, technical limit, communications, in the Execute Stage of the project.
- Applying risk management tools: how a variety of tools are used to manage risk throughout the project
- Macondo review: what should we be learning from Macondo? Analysis and key factors for focus
Project Success Factors in Deepwater Wells
- Project success factors: sources of value, development skills, key factors in successful projects
- Human factors in well projects: understanding how human factors are key in both driving success in the project, and in managing risk, in planning, execution, and learning:
- Situational awareness,
- “Taking the time to do it right”
- Managing change
- Final exercise: creating a springboard for continued application of project & risk management principles in future projects.
- Wells Managers
- Wells Team Leaders
- Drilling managers,
- Well Operations superintendents,
- Senior well engineers, Well Engineers
- Wellsite leaders and supervisors involved in deepwater well projects.
- This course is also suitable for general managers, asset managers, project managers, and others involved in the planning and management of deepwater well projects.
Deepwater well project management requires an understanding of differences between conventional well projects and deepwater well projects. Participants should be understand conventional well design, well construction operations, and support functions in order to grasp the concepts and challenges faced in the deepwater environment.
The deepwater drilling design and operations seminar is recommended as a prerequisite for those with drilling focus, and the deepwater completions seminar is recommended as a prerequisite for those with a comppletions focus. Participants in a Wells Manager, Wells Team Leader, Superintendent, Wellsite Leader, or other roles with an overall focus on well projects would benefit from both of these courses.