Stones Development: Best in Class Risk Reduction and Cost Improvement During Project Execution

摘要

The Stones asset is an ultra-deepwater development located approximately 200 miles south of New Orleansrnin ~9500 feet of water (See Figure 1). Final investment decision was taken in 2013, with first productionrnachieved in September 2016. This development is part of the frontier Paleogene outboard play in the LowerrnTertiary Trend that targets the Upper and Lower Wilcox formations.rnIn early 2014, a change management program was kicked off, originally centered on minimizing wellrnconstruction risks. This change management program was organically grown, with cost and risk baselinesrnbeing re-assessed bottoms up, and key opportunities identified.rnMajor improvements were obtained in the areas of minimization of risk and capital investment duringrnthe period of 2014 to 2016. Improved risk and cost themes centered on: (a) enhanced trade-off betweenrnsubsea and well construction complexities; (b) improved subsurface imaging to increase flexibility inrnwell trajectories; (c) deepened integration between completion choices and well designs; (d) technicalrnfunctionality rationalization; and (e) supply chain improvements.