Research Article
Reducing Non-Productive Time: Strategies for Cost Optimization in Offshore Drilling Operations
Issue:
Volume 10, Issue 4, December 2024
Pages:
73-78
Received:
19 September 2024
Accepted:
11 October 2024
Published:
31 October 2024
Abstract: Reducing Non-Productive Time (NPT) is critical for cost optimization in offshore drilling operations, where operational efficiency directly impacts financial performance. NPT, which refers to periods when drilling activities are halted or progress is significantly slowed, can lead to substantial financial losses and project delays. Effective strategies for minimizing NPT are essential for optimizing costs and enhancing overall drilling performance. This paper adopted a descriptive approach in evaluating key strategies for reducing NPT through Lean methodologies, such as Define, Measure, Analyze, Improve, and Control (DMAIC) framework, which helps to eliminate waste and non-value-adding activities. Improved process efficiency results in faster operations and reduced downtime, contributing to significant cost savings. Effective resource management, including optimized crew deployment and inventory management, further supports cost reduction by avoiding overstocking and ensuring optimal use of resources. The paper concluded that reducing NPT through predictive maintenance, parameter optimization, process efficiency, and resource management using Lean Six Sigma Method is crucial for cost optimization in offshore drilling operations. These strategies collectively enhance operational performance, leading to financial and efficiency gains in the industry.
Abstract: Reducing Non-Productive Time (NPT) is critical for cost optimization in offshore drilling operations, where operational efficiency directly impacts financial performance. NPT, which refers to periods when drilling activities are halted or progress is significantly slowed, can lead to substantial financial losses and project delays. Effective strate...
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