PROACTIVE JOB OPTIMIZATION IN HEAVY OIL ASSET OPTIMIZATION TEAM PT CPI

• Main Author: Aji, Muhamad
• Format: Theses
• Language: Indonesia
• Subjects: Manajemen umum
• Online Access: https://digilib.itb.ac.id/gdl/view/54694
• Institution: Institut Teknologi Bandung

PT Chevron Pacific Indonesia (PT CPI) is a multinational company that has been operating Heavy Oil Field, one of the largest active steamflood project in the world. The Heavy Oil Field is in the Rokan Block, Riau province, Indonesia. PT CPI is an oil and gas operator that responsible directly to Government of Indonesia (GOI) under Production Sharing Contract (PSC) which will expire in August 2021. Heavy Oil Asset Optimization Team (HO AOT) is a team that responsible on managing base business activities that related to well maintenance, optimization, and reservoir performance in Heavy Oil Field. In 2020 Business Plan (BP20) that developed in Mid-2019, PT CPI still committed to maintain base business activities almost the same level with the previous years for 2020 if the works met with the company’s economic hurdle. At that time, the company still predicted the oil price will stay at $60 per barrel until August 2021. The oil and gas circumstance were changing rapidly started on March 2020 where the oil price dropped significantly from average $60 to $30 per barrels. The corona virus pandemic spreading around the world is causing unprecedented upheaval in business activities including the oil and gas industry. The combination of demand contraction due to pandemic, and supply surge due to the breakdown in Russia/Saudi supply agreements, puts extreme downward pressure on oil prices. This extreme condition driven PT CPI to re-evaluate all activities that planned in 2020 Business Plan (BP20). The research focus was to develop optimization plan for the proactive job in low oil price environment. The author utilizing operation management, financial management and decision analysis to create alternative solutions. The author and team were suggesting three recommendations. First, increase chemical bullhead job with the optimum capacity of resource available. Second, decrease chemical Coil Tubing Unit (CTU) to minimum level and reallocate the budget saving to Chemical Bullhead. Third, optimize the execution of Proactive Workover by focusing on low-cost job, improving the candidacy for revise liner job, and utilize deadstock material for several type of workover to improve economic viability. This research expected to provide the lesson learns for future operator how to manage proactive job in Heavy Oil Field operation. It will be stored in the company’s knowledge management system and will be transferred to the next operator to support the stakeholder (PT CPI, SKK Migas, Next Operator) goal to create smooth transition on Rokan Block handover in August 2021.