The detailed analysis provided by Solomon’s Thermal Oilsands Operations Performance Analysis can help you uncover key areas of underperformance in your operations. Root cause analysis can then be used to identify appropriate methods of reducing costs and maximizing production. The end result is a series of cost reduction steps that you can take immediately.
Production from thermal in situ oilsands projects will double in the next 10 years. However, margins are under pressure from cost escalation and low sales prices. To remain competitive, operators must understand what drives good operating performance, and how to improve steam and production operations. As key information is not always readily available, it is not always easy to determine which operating areas offer the greatest potential for meaningful savings and whether operations are at maximum uptime.
Why Choose Solomon's Thermal Oilsands Operations Performance Analysis?
Solomon's categories of key controllable costs distill complex problems into three main areas: steam plant, energy use, and field operations. Once we have categorized a problem, we delve into the category’s subclassifications to focus on specific cost problems. In addition, we pinpoint excessive expenses and identify the savings potential for each important cost category for every project.
Our review of daily production identifies valuable lost production opportunities at two levels:
- Steam plant reliability
- Production operations
Our Reliability Index (RI™) Advisory Services assess your key properties for:
- The frequency and impact of incidents
- The ratio of the mean time between steam production incidents to the mean time to recover from them
- Production and dollars lost
- Turnaround metrics
Study deliverables include a customized diagnostic analysis targeting each project and cost category as well as data collection support, a customized executive summary, and a private debriefing with Solomon’s operations advisors. Our improved cost data gathering approach is based on your own cost data structure, which makes data retrieval easier and faster.
How It Works
The analysis focuses on:
- Cost – Compares your total unit operating costs to those of your peers and provides in-depth analysis of your production and plant operations by cost category.
- Uptime – Assesses the production efficiency of your project’s deferred revenue, and identifies production improvement targets.
Many companies capture large operating cost savings through our asset benchmarking. Our approach is accepted in 40 countries and has become the upstream standard.
Solomon studies help you find answers to the critical questions key to your business success:
- How reliable are my facilities?
- How does my equipment utilization compare with that of others?
- Are my operating expenses comparable to those of companies with similar facilities?
- Do my facilities produce a competitive gross margin, taking into account my utilization and complexity?
- How do I compare across the range of performance in the industry?