Gain an independent, objective estimate of your operational performance metrics for greenfield and brownfield projects.
Optimizing a dynamic and diverse asset portfolio with limited information is a challenge for O&G investors. Solomon’s New Projects OpEx Estimator solution provides life-cycle benchmarks using real peer data from our proprietary upstream and natural gas processing plant operations database. Our best-practice approach provides an independent and objective estimate of production operational metrics such as OpEx, staffing levels, energy consumption standards, and carbon emissions.
Inaccurately estimating OpEx over a project’s life-span can result in a mismatch between the project-value proposition and the actual asset performance. Our studies show that poor operational design decisions such as oversized equipment and field infrastructure maturity lead to operating costs that are sharply higher than initial estimates. OpEx is more difficult to assess than CapEx because, while it may be lower, it is spread out over years and based on diverse technical and economic assumptions.
Using minimum project design data, our multi-user web tool can help evaluate the impact of your facilities design scenarios and set operational performance targets for offshore, onshore, subsea tieback, unconventional, and gas processing plant projects worldwide. The tool uses Solomon’s normalization factors to estimate the level of technical complexity of your new operation by cost category. These technical assumptions, in conjunction with country-level economic factors, generate achievable operational performance estimates. Furthermore, this tool allows operators to compare their future assets’ performance against industry averages. The tool also enables an operator to compare the performance of an asset it owns against other assets in its portfolio.
When you choose us, you will leverage:
- Our unique field-level cost operations database, built with proprietary data from >30 years of benchmarking, and operations analysis of >5,000 onshore and offshore O&G fields and 95 natural gas processing plants.
- An assessment approach customized by operation type such as primary, secondary, or floating production storage and offloading vessels, as by field characteristics.
- The ability to deliver forecasts at various levels of detail as development planning progresses.
- Subscription to a web-based tool for estimating the OpEx of multiple projects under different technical design scenarios.
- Consulting services to provide guidance and operational insight on your project’s design scenarios at any stage of project life-cycle.
Performance metrics applied:
Operating expenditures (maintenance, labor, energy, others)
Staffing levels (operations, maintenance, support)
Energy consumption standards
Global and regional competitiveness benchmarks by operation type
Normalized benchmarks based on project complexity level
Data Quality, Benchmarking Methodology
A Foundation for Effective Comparative Performance Analysis and Decision Support
We prioritize the integrity and security of participant-submitted data and rigorously review that data before benchmarking begins. Then, we employ our normalization process and benchmarking methodology to provide valuable and trusted peer group comparisons that deliver meaningful KPIs. Finally, our staff of senior consultants apply their deep industry experience to develop practical insight and recommendations to enable your success.
Additional Studies & Analysis
With 30+ years of upstream benchmarking experience and the world’s largest database of upstream performance data and metrics, Solomon knows what “good” looks like for any given type of operation. The Offshore Study assesses your performance against peers and identifies cost and production improvement opportunities. The study focuses on critical KPIs, including operating cost, cost drivers, production efficiency, and uptime reliability.
If your organization is new to one of our studies or has experienced challenges completing the study data input forms, Solomon can help. Data quality and a proven benchmarking methodology enable results and insight you can trust. Contact us today!
Solomon benchmarking is the key to understanding your operational gaps relative to peers across a wide range of key performance indicators (KPIs) and helps you better compete in today’s ever-changing industry. Our proprietary database and benchmarking studies enable a deep understanding of the factors driving your industry and competition; insight not possible with internal benchmarking.