Journal of Petroleum Technology, Vol.49, No.4, 374-374, 1997
Squeezing the Margin - Experience in Managing Late Field Life
The upstream industry on the U.K. Continental Shelf (UKCS) is maturing, and, despite considerable turmoil and change in the early 1990’s, further innovative approaches are necessary to achieve the fundamental step changes in performance required to sustain the business as real oil prices touch 20-year lows. This paper describes the novel initiative taken by the upstream sector of British Petroleum (BP)-one of the world’s major oil companies-in 1994 with respect to four of its most mature oil production fields. The changes made, including the new calls made on the work force and the marketplace for service delivery, and the results achieved are described. Clues about some of the key success factors are given.