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- W2054278190 abstract "Abstract Idea generation, engineering and approval are all necessary parts of the decision making process in all oil and gas companies. These individual steps however, can be combined into a single high-level process referred to as the AFE process. AFE (Authorization For Expenditure) terminology has become widely used in the oil industry environment. The process combines financial capital with engineering talent to produce enhanced output in the form of successfully drilled wells. The AFE decision making process starts with an idea or concept and concludes with the finished product of a drilled well. A direct comparison can be made between the new product development process in a manufacturing company with this process. Similarly, improving the AFE process is as critical as bringing new, innovative products to the market in as short a time as possible. This paper flow-charts the decision making process from the idea inception to the final drilled well as it is currently performed within a company. Each step is examined in detail and a total cycle-time is calculated. A continuous performance improvement (CPI) style process review is carried out to remove bottle-necks and redundant steps in order to reduce cycle-time and improve the process flow. The new process becomes significantly improved over the old one. Cycle-time is reduced by performing various steps in a parallel rather than series mode. Decision making is employed at a team level where the entire team becomes responsible for the process rather than the individual. Ultimately, consensus and buy-in is reached at a quicker pace. A project kick-off checklist is designed to facilitate complete and thorough review at the start and at specific milestones as the project progresses. Suggestions are outlined for increasing idea generation, deciding on data needs and on when service-company partnering should be considered. In addition, methodologies for establishing project quality control checks, lookbacks and for reviewing each project for technical soundness are investigated." @default.
- W2054278190 created "2016-06-24" @default.
- W2054278190 creator A5086228082 @default.
- W2054278190 date "1994-09-25" @default.
- W2054278190 modified "2023-09-27" @default.
- W2054278190 title "A CPI Process Review of the AFE Decision-Making Process" @default.
- W2054278190 doi "https://doi.org/10.2118/28342-ms" @default.
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