Reversing the UKCS Production Efficiency Decline – Changing the Safety-Productivity Dynamic Is The Key
Petrotechnics’ CEO Phil Murray to Headline Breakfast Briefing at Event
Aberdeen, November 10 – Petrotechnics, the leading provider of enterprise operations excellence management solutions, will present a Breakfast Briefing at the Institute of Mechanical Engineers’ Production Efficiency 2014: Reversing a Declining Trend. At this flagship UKCS event Phil Murray, Petrotechnics’ CEO, will explore what could be holding the industry back from production efficiency increases and how by changing the safety-productivity dynamic we can balance conflicting priorities in a way that manages risk while improving performance.
The event, which takes place in Aberdeen from November 11th to 12th, will set out the challenges facing Operators in the UKCS. The North Sea is facing a predicted investment decline of 50% by 2020 and has seen the annual hydrocarbon production average drop by 20% from the historical average. The event will focus on sharing knowledge and experience of new technologies, methodologies and best practice for increasing production levels.
Mr Murray will present Proscient, Petrotechnics’ enterprise operations excellence management solution, which allows organisations to lower operational risk at the same time as improving production. The key to reversing this declining production trend facing the industry is to create a common currency of risk across the organisation so that anyone at any time can see the potential impact of risk and make decisions to improve effectiveness, efficiency and reduce risk.
While it may seem simple in theory to ensure that the work needed to maintain safe, efficient and sustainable production gets executed safely and efficiently, the reality is often very different. Competing work conflicts, stretched resources, differing priorities across business functions and changing workforce demographics are just a few of today’s realities across the global oil and gas industry. These drive an uneasy balancing act that is the modern safety – productivity dynamic. Frontline managers and operations staff working in the UKCS are constantly making decisions which have a direct and profound impact on operational risk, production efficiency and costs.
“As Einstein observed “we cannot solve our problems with the same thinking as we used to create them””, said Phil Murray, CEO, Petrotechnics. “The Breakfast Briefing will explore what could be holding the industry back from improving production efficiency. At Petrotechnics we believe that by changing the safety-productivity dynamic we can balance conflicting priorities in a way that manages risk while improving performance”, continued Murray.
Petrotechnics’ Proscient software platform is an operational performance and predictive risk solution that changes the safety-productivity dynamic in hazardous industries. It allows organisations to collectively understand the impact of risk on operations so that they can make better decisions to improve their operational performance. With the ability to ensure more of the risk work is done safely, efficiently and sustainably, organisations can reduce operational risk and improve production efficiency. The result is improved safety, optimised production efficiency, improved asset integrity and a reduction in unplanned shutdowns and turnarounds.