Drilling and Workover Efficiency Save USD 26 Million for PDVSA Case study: Project management techniques boost output by 6,000 bbl/d in Venezuela Challenge More economical ways to drill and work over wells Petróleos de Venezuela (PDVSA) As part of a late 1990s plan to increase production in Venezuela, PDVSA sought sought more economical ways to more economical ways to drill and work over wells in Lake Maracaibo. Schlumberger drill and work over wells in Lake helped solve this challenge by applying an integrated approach to project management Maracaibo. and introducing a range of new technologies. Solution Project management alliance The Schlumberger Integrated The companies formed a 10-year alliance, PRISA, in which Schlumberger operates Project Management (IPM) team an oil field on behalf of PDVSA to improve productivity and achieve shared goals. and PDVSA formed a 10-year The project management scope covers all phases of operations, from planning to job alliance in which Schlumberger execution and analysis. operates an oil field on behalf of By January 2000, the PRISA project was fully mobilized with 6 multipurpose drilling PDVSA to improve productivity and workover vessels and 645 Schlumberger personnel in place. The PRISA project and achieve shared goals. The team creatively manages drilling and workover rigs and services, barges, tugs, and project management scope cov- crew boats. ers all phases of operations, from planning to job execution and analysis. Results New practices and services have resulted in a production increase of 6,000 bbl/d above expectations, an 11% decrease in the cost per barrel produced, savings of USD 26 million for PDVSA, and improved geological field models. The PRISA team drilled and worked over more than 200 wells ahead of schedule. Integrated Project Management Case study: Project management techniques boost output by 6,000 bbl/d in Venezuela Production increase and cost savings Schlumberger has introduced many new practices and services to the Lake Maracaibo project, resulting in I a production increase of 6,000 bbl/d above expectations I an 11% decrease in the cost per barrel produced I savings of USD 26 million for PDVSA I improved geological field models. E-mail [email protected] or contact your local Schlumberger representative to learn more. www.slb.com/ipm 06-IP-018 December 2006 *Mark of Schlumberger Copyright © 2006 Schlumberger. All rights reserved. Produced by Schlumberger Marketing Communications.