Per Khun Pairoj’s December Message, it is essential that we take aggressive steps to become leaner and more cost-efficient. To support this objective, we commissioned the Well Factory Streamlining Project (WFSP) to finalize and consolidate organizational efficiency improvements from the Well Factory Steering Committee, Corporate Drilling Resource Optimization Review (ROR), and additional Thailand-specific initiatives. These enhancements to our Well Factory processes are necessary to reposition us for success in this new business climate.
Over the last few months, the WFSP critically examined how we can deliver our business safely while cutting costs, reducing flexibility, enhancing predictability, and preserving value. We appreciate the efforts of the over 130 people from within and outside our business unit that participated in cross-functional reviews of our processes and activities.
Special thanks to the WFSP Opportunity Leads who worked with stakeholders in a very short amount of time to develop viable options for us. They looked for ways to extract maximum efficiency gains while clearly noting any associated regrets. Last Friday, the WFSP proposed final recommendations that we approved.
We have tasked the Well Factory Steering Committee to deploy changes and Joe Koch to serve as the Deployment Project Manager. The WFSP will kick-off engagement sessions in mid-February to address these topics:
• Session 1: Rig Schedule Governance, WC-CPDEP and AFE Process
• Session 2: WFO Rules
• Session 3: MOCs, BOD and Global Standard Updates
Additional information about these engagement sessions and the impact of WFSP will be forthcoming. Mid-March is the target effective date for all process updates.
Thank you very much in advance for your support of this top business priority. We are counting on your continued commitment and support to ensure the long-term success of our business. For more information about the WFSP, please visit the Project’s SharePoint Site, review the Project Overview, and/or contact the WFSP Team.