Address market fluctuations by looking beyond cost-cutting to operational excellence.
While cost-cutting can be necessary to maintain operational cash flow, looking more closely at operational excellence creates opportunities for the long run. Solomon’s Offshore Study can illuminate these opportunities. The study provides a platform for assessing offshore asset performance at the company level and comparing the performance of similar operations either globally or within a given region.
Since 1998, Solomon has benchmarked offshore operations in the Gulf of Mexico and in other areas worldwide, in all water depths. Our benchmarking studies analyze offshore operations for all production system types (fixed and floating), equipment of all ages, and assets with various qualities and at different stages of asset life. Our studies have analyzed everything from mature, low-productivity shelf fields to newer deepwater fields.
In addition to benchmarking operating cost and cost drivers (such as boat versus helicopter strategies), we also benchmark uptime reliability and production maximization. Performance in these areas is critical to offshore success, especially in times of high commodity prices. And after you receive your benchmarking results, we can further assist you with closing gaps with peers and monitoring KPIs on an ongoing basis.
Learn How You Can Participate
Obtain a clear picture of your competitive position with data-driven, actionable insight. Make informed decisions and justify your strategies and improvement projects.
offshore and onshore O&G fields in
Answer key questions critical to success:
- Are my operating expenses competitive with companies that have similar facilities?
- How reliable are my producing assets?
- How does my facility utilization compare with others?
- How do I compare across the range of performance in the industry?
Closing Performance Gaps
What gaps do you struggle to close? What quick and near-term actions will have the biggest impact on performance excellence and profitability? We know what good looks like… and how to get there.
Data Quality, Benchmarking Methodology
A Foundation for Effective Comparative Performance Analysis and Decision Support
We prioritize the integrity and confidentiality 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.