Company Reduces Upstream & Midstream Assets’ Turnaround Duration, Increasing Production and Estimated Revenue to 25M USD
Solomon’s Turnaround Excellence Process identified recommendations and developed a strategy to reduce turnaround duration and increase turnaround intervals.
An upstream company’s benchmarking results of its onshore gas operations revealed poor turnaround performance significantly higher than the peer average. The operator desired to improve its turnaround performance at three assets.
Solomon applied its Turnaround Excellence methodology to develop an upstream maintenance turnaround strategy that would increase the client’s turnaround intervals and reduce its turnaround durations from 14 to 11 days.
Recommendations to optimize turnarounds were developed and a compressor maintenance and turnaround strategy was generated. If implemented, the strategy will reduce turnaround durations by 2 to 3 days, in turn, increasing production by 60 Mcf/d for each turnaround event. The estimated production increase revenue benefit is estimated at 25M USD based on increasing Gas Production Feet (GPF) throughput by 360 Mcf at 4M USD/Mcf. Furthermore, the client will be increasing turnaround intervals from 4 to 6 years.
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.