Increasing operational efficiency of an oil field service company in current environment

Abstract

The well construction is always key activity over the exploration and production lifecycle. Oil companies must spend more resources for the well construction and it is biggest subject for the operators to accomplish well construction in the manner as sufficient as possible. That trend of improving the efficiency has been particularly escalated today because of the recent environmental change including digital technology revolution. One of the missions of an oil field service company is to provide superior technology to oil companies and support them to explore and develop reservoir efficiently. To achieve this mission, service companies are developing new type of services utilizing the latest digital technologies.

This paper reviews the recent technology developments in an oil field service company focusing on the well construction aspect and discuss the key factors to increase operational efficiency.