Offshore Study: Improve Production Efficiency, Uptime Reliability & Cost Performance

Unlock Full Production Potential in Your Upstream Offshore Operations

Solomon’s Worldwide Offshore Production Operations Performance Analysis (Offshore Study) is a Comparative Performance Analysis™ (CPA™) to help offshore operators optimize their production operations and cost management strategies—positioning their company to exploit the current market by securing optimal profits of assets. Our experts, with 25+ years’ industry experience and the world’s largest proprietary database of upstream performance data and metrics, assess your performance against peers to deliver practical insights into cost, reliability, efficiency, and production performance improvement.

The Offshore Study is designed to help you navigate your unique challenges and successfully position your company to maximize profitability and achieve full production potential—even amid the upstream industry’s volatile market conditions.

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Leverage insight from the world’s largest upstream performance operation database of >1,200 offshore assets and >90 FPSOs.

Can you answer these questions of your offshore operations?

Where do my offshore assets stand relative to peer fields in both operating cost and reliability?
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?
What is my competitive position within my region and the world?
How competitive are my total production costs and net cash margins?
How efficiently are my facilities being operated?
Which cost areas should I target for lost opportunities?
How frequent are my production incidents and recovery time?
Am I using excessive boat and helicopter resources?

Our Approach

Enabling a consistent & reliable basis for managing continuous improvement

The study analyzes operations, cost, and production performance at the asset-level for all offshore production facility types/systems. This “asset-to-asset” comparison enables more accurate identification of the areas where your facilities could improve.
We measure asset performance with a specific set of KPIs by analyzing your offshore operations, transportation activities that support those operations, offloading operations (tankers excluded), and overhead (management, technical, business support).
Our experts focus on critical KPIs, including operating cost, cost drivers, production efficiency, HSE/PSM, well-work, and uptime reliability. This analysis enables a consistent and reliable basis for managing continuous improvement.
We understand production is not the main offshore cost driver; unit costs do not indicate how efficient an operation is. The study’s leverages cost competitiveness and cost efficiency analyses to examine how your costs compare to others in the market and how well costs are managed.

Peer Groups Based on Major Offshore Asset Types

Offshore Study participants consistently report significant improvements in operational efficiency, reliability, and cost control — resulting in reduced unplanned downtime, optimized maintenance schedules, and stronger returns.

Featured Resource

Podcast Series: The Offshore Study in Five Questions | Benchmarking Explained

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This five-part podcast series, breaks down the 2026 Offshore Study, covering what it measures, the ROI it delivers, how to get involved, and…

The Value

WHY JOIN THE OFFSHORE STUDY

Compare with top-industry peers.
Recieve performance rankings on a global, regional, and peer group basis for all performance areas and cost drivers/categories.
Analyze uptime reliability performance issues on a consistent basis across companies and assets.
Pinpoint “cost drivers” for each asset type.
Evaluate competitiveness and efficiency of operating cost-optimization strategy using a normalized cost performance assessment.
Establish performance targets and measure progress.
Assess production efficiency and reliability performances.
Analyze HSE/PSM, GHG Emission, and Sustainability performances.
Define robust strategies and tactics to deliver sustainable performance and cost reduction.

Client Testimonials

The scope and format of the study helped us focus on specific areas of improvement. The results presentation was concise and informative. It reflected considerable knowledge of operations. As a result, we have been able to dramatically improve our production efficiency and lower costs. MAJOR OIL COMPANY

The result of this study is very helpful; we can see the weaknesses & opportunities to improve, such as boat cost. LOGISTICS MANAGER, US MAJOR

The value for changes we implemented was estimated at $5,000,000, a very good return on investment. SENIOR ENGINEER, U.K. MAJOR

Immensely impressive…much more detailed than other benchmarking studies. PRESIDENT, U.S. MAJOR

The study is an excellent fit with our strategic intents of operational excellence and cost reduction. We have already taken actions in several areas and have seen significant cost savings. SUBSIDIARY OF INTERNATIONAL E&P

Gain Actionable Insight

Learn How You Can Participate

Gain insights to enhance production efficiency, maximize uptime reliability, and optimize cost performance for your offshore assets, ensuring you achieve the best possible returns in today’s dynamic market. Join others who leverage the world’s largest upstream database and expert resources to improve their production operations.

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A Foundation for Effective Comparative Performance Analysis and Decision Support

DATA QUALITY, BENCHMARKING METHODOLOGY

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.

LEARN MORE ABOUT OUR METHODOLOGY

FREQUENTLY ASKED QUESTIONS (FAQ)

Q: How does the Offshore Study measure cost competitiveness of my assets against others in the market?

A: The Offshore Study includes a cost competitive analysis that measures cost on a unit-of-production basis by overall cost and cost subcategory. It represents an economic reality but is only a competitive measure.

Q: How does the Offshore Study assess my assets’ field operating cost performance?

A: The Offshore Study includes a cost efficiency analysis that assesses and normalizes performance. The analysis determines how efficient/effective the costs have been managed given the particular operations and other conditions. It also is used to calculate incentives/gap analysis. Field operating cost is broken down into seven major subcategories, and from the cost, production, and technical data gathered, a statistical analysis is performed. For each subcategory of cost, we look for statistically significant relationships of underlying “drivers” that seem to impact each particular cost category for that peer group.

Q: What is the Offshore Study?

A: The Offshore Study uses Solomon’s proprietary CPA benchmarking methodology and normalization methodology to compare the production, cost, and operational performance of offshore operators, at the asset level, worldwide. The study’s objective is to help offshore operators achieve operational excellence by identifying opportunities to optimize, improve, and carefully balance their offshore operations performance in the areas of production efficiency, reliability, sustainability, HSE/PSM (Health, Safety, and Environment/Process Safety Management), and cost performance. The Offshore Study can help offshore operators successfully position their company to exploit the current market by securing optimal profits of your assets.

Q: What level of data confidentiality and security can we expect when participating in this study?

A: Solomon takes data confidentiality and security very seriously. All data is anonymized and aggregated to protect individual company information, ensuring that proprietary information remains secure throughout the benchmarking process.

Q: What kind of measurable improvements have previous study participants achieved?

A: Participants have reported significant improvements in operational efficiency, reliability, and cost control. These enhancements often lead to reductions in unplanned downtime, optimized maintenance schedules, and better alignment with sustainability goals—all of which contribute to a stronger ROI.

Q: How does this study enable my company to compare our performance with that of our peers?

A: The study provides a comprehensive, anonymized comparison with peers in the offshore industry, allowing you to see how your performance stacks up across key areas like cost, uptime, efficiency, and sustainability. These insights highlight where your company excels and where there is room for improvement.

Q: What scope of the offshore oil and gas process does the Offshore Study cover?

A: The Offshore Study covers offshore operations and transportation activities that support offshore operations. This includes overhead (i.e., management, technical, and business support) and offloading operations but excludes tankers. The Offshore Study scope does not include terminals, onshore processing, and export pipelines.