Zero Base Budgeting Applied to Oilwell Construction

Abstract

Abstract The development of digital transformation tools has significantly increased the amount of available data in recent years. As in all sectors of the economy, the oil industry, with a focus on well construction, was not left out of the process. Numerous data are monitored and stored in real time and several studies are carried out to increase operational performance. However, little has evolved in relation to the knowledge that these data can generate in decision-making processes, such as in the definition of targets that serve as a reference for the planning of interventions. Thus, this article explains a new methodology for defining targets, based on the knowledge of specialists, the concept of zero-based budgeting and risk analysis, with the integration of teams of well designers, reservoirs, and budgeting. The methodology was used in 19 fields’ studies and directly applied to the planning of 5 new projects.