Oil and Gas KPIs for Effective Performance Management by AssessTEAM

Effective Performance Management KPIs in the Oil and Gas Sector

With increasing global demand, unstable prices, and increasingly restrictive environmental regulations, ​oil and gas companies face 3 major challenges suggest experts at Quantzig. ● Minimizing costs to remain competitive ● Meeting environmental regulations ● Performance improvement Leading oil and gas companies are using digital technologies to enhance their decision-making process, enabling them to tap new resources, boost recovery rates and reduce environmental impact.

In light of this need to boost overall well performance, oil and gas companies should also consider Human Resource strategies that can boost petroleum engineer performance.

Petroleum engineers are critical to your production process and boosting engineer performance will lead to an increase in good performance.

However, with petroleum engineers often distributed throughout the globe, working on complex projects and assignments, managing and optimizing performance can be a challenge.

But, with the following key performance indicators and state of the art, cloud-based performance appraisal technology like AssessTEAM, performance of your petroleum engineers should be easy.

Petroleum Geologists.

You rely on your petroleum geologists to search for and locate (oil and gas) in land or in the ocean and the following set of KPIs can help you to optimize their performance.

● Discovers the location of financially exploitable amounts oil and gas in sediments and reservoirs ● Effectively interprets geophysical information in project reports ● Designs and implement effective drilling strategies for extraction ● Accurately estimates fuel amounts ● Creates detailed projects reports summarizing the project Reservoir Engineers If reservoir extraction is your core business you’ll need a powerful set of KPIs to optimize engineer’s performance in this area, such as: ● ● ● ● ●

Accurately determines the location and amount of fuel in reservoirs Determines the most cost-effective and safe way to extract the oil and gas Effectively places wells to optimize production of oil and gas.

Advises on necessary adjustments during drilling process to maintain extraction Effectively uses computer modeling to assess reservoir potential for investment calculations ● Use computer simulations effectively to help identify drilling risks Production Engineers The performance of your production engineers focussed much more on hardware, can also be optimized using a set of KPIs like this: ● Develops effective mining and drilling equipment for extraction ● Develops new extraction processes to optimize production at each oil field and gas deposit. ● Creates safe and effective procedures to be used for good drilling ● Determines the most efficient and cost-effective drilling equipment for use on the ocean floor and dry land. ● Determines the most efficient and cost-effective surface equipment to separate the extracted fluids, (oil, natural gas, and water) ● Effectively manages the interface between the reservoir and the well using appropriate techniques.

Drilling Engineers The more hands-on engineers can also have their performance optimized using KPIs such as these: ● Effectively designs and supervises drilling process unique to each petroleum deposit ● Draws up drilling programs to deliver desired production flow rates ● Effectively tracks current daily costs and keeps costs on track ● Works effectively in multidisciplinary teams alongside engineers, scientists, and drilling teams ● Effectively manages the technical aspect of drilling production and injection wells.

AssessTEAM offers technology that can help oil and gas organizations to develop and implement these KPIs and quickly cascade them throughout your organization. This will help your organization to optimize your engineer’s performance.

Our highly automated and agile performance management system allows you to assign KPIs to large numbers of staff and monitor performance against hundreds of goals on a regular basis with little manual effort.

AssessTEAM allows you to optimize an engineer’s performance and well production because the decision-critical performance management data will be automatically collected for you.