WRM Integrated Value Management of Oil & Gas Exploration and Production

DOI

10.2991/iaw-sc.2013.77How to use a DOI?

Keywords

Well and Reservoir Management (WRM); integrated value management; value loop; Lean production;Total Quality Management(TQM); Process-based organizational structure

Abstract

This paper explores the management ideas/tools underlying Well and Reservoir Management (WRM) for Oil & Gas exploration and production. WRM is an integrated management which covers the whole chain of Oil & Gas exploration and production from subsurface Reservoir Management to Well, surface facilities, and export system. WRM aims to maximizing the life-cycle value (in ultimate recovery or financial measures) of the whole production system. From the perspective of management theory, the success of WRM lies in the integration of management ideas/tools of Lean production, Total Quality Management (TQM), and Process-based organizational structure.

Copyright

© 2013, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Ming Fang
AU  - Jing Luo
AU  - Yujun Wang
PY  - 2013/10
DA  - 2013/10
TI  - WRM Integrated Value Management of Oil & Gas Exploration and Production
BT  - Proceedings of the 2013 International Academic Workshop on Social Science
PB  - Atlantis Press
SP  - 358
EP  - 361
SN  - 1951-6851
UR  - https://doi.org/10.2991/iaw-sc.2013.77
DO  - 10.2991/iaw-sc.2013.77
ID  - Fang2013/10
ER  -