Benchmarking is integral to the asset stewardship process and is helping to drive significant performance improvements in cost, production efficiency, wells and project performance and decommissioning.
The NSTA has responded to requests from operators that we examine ways of using information and data from its UKCS data repository to enable performance benchmarking. As a result, NSTA now use UKCS stewardship survey data to benchmark assets for production efficiency, recovery factor, operating cost, well and decommissioning cost. The results are then communicated confidentially to operators, through the asset stewardship review process, in a non-attributable way to help industry improve performance.
Key aspects of these benchmarks are:
- External communication of benchmarks will be non-attributable, and anonymised
- Operators will only see their own asset performance compared against non-attributable, anonymised trends
- Benchmarks will be derived from data received from the rationalised annual UKCS Stewardship Survey (providing an incentive to operators to improve the quality and thoroughness of survey data submission)
- Benchmarks will be developed in consultation with the appropriate North Sea Transition Task Force to ensure credibility with future industry recipients of the benchmark reports
- Screening tools identifying opportunities for more detailed evaluation