DEVELOPMENT OF COST BOOK & DIGITAL DASHBOARD TO IMPROVE COST MONITORING IN DRILLING & COMPLETIONS

• Main Author: Wijaya, Candy
• Format: Theses
• Language: Indonesia
• Subjects: Manajemen umum
• Online Access: https://digilib.itb.ac.id/gdl/view/54601
• Institution: Institut Teknologi Bandung

PT. Laniakea Indonesia is one of the key oil and gas company in supporting Indonesia’s rapid development. In conducting its operation, the Company shall comply to the Production Sharing Contract (PSC) terms including the cost recovery process that must be responsibly closed out to the Government. Therefore, managing contracts to support the operation becomes crucial to ensure efficient and continuous operation. One of the efforts by the Drilling & Completions team of PT. Laniakea Indonesia to manage its operation supporting contracts is to establish a cost monitoring system to ensure there is sufficient remaining value in the contract to have continuous operation. However, the effort faces a challenge with low accuracy of cost data submitted into the System of Record – SoR. Root cause analysis results on the aforementioned challenge are then analyzed using Kepner-Tregoe Approach (KT Approach) to facilitate the decision-making process. The Situational Appraisal facilitates prioritization of 3 (three) focuses or main concerns based on timing, trend, and impact. Problem Analysis is performed on the first focus, no standard method to monitor remaining contract value, and it confirms the cause is the lack of system or tool to accommodate unsubmitted invoice. Decision Analysis is performed on the second focus, no integrated tool for cost code, contract, compensation rate, and exchange rate. The tool’s purposes are classified into the MUSTs and the WANTs, which are then used as criteria in evaluating identified alternative solutions. From the 3 (three) identified alternative solutions, the Cost Book attained the highest overall score which makes it as the recommended solution. Potential Problem Analysis is then performed to the third focus, performance was not measured by cost accuracy. Likely causes for each potential problem were identified, which then related preventive and contingent actions are determined as precaution if the problem occurs in the future. The analysis concluded several actions that would require support from the Drilling & Completion leadership.