WRM Integrated Value Management of Oil & Gas Exploration and Production
- 10.2991/iaw-sc.2013.77How to use a DOI?
- Well and Reservoir Management (WRM); integrated value management; value loop; Lean production;Total Quality Management(TQM); Process-based organizational structure
This paper explores the management ideas/tools underlying Well and Reservoir Management (WRM) for Oil & Gas exploration and production. WRM is an integrated management which covers the whole chain of Oil & Gas exploration and production from subsurface Reservoir Management to Well, surface facilities, and export system. WRM aims to maximizing the life-cycle value (in ultimate recovery or financial measures) of the whole production system. From the perspective of management theory, the success of WRM lies in the integration of management ideas/tools of Lean production, Total Quality Management (TQM), and Process-based organizational structure.
- © 2013, the Authors. Published by Atlantis Press.
- Open Access
- This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).
Cite this article
TY - CONF AU - Ming Fang AU - Jing Luo AU - Yujun Wang PY - 2013/10 DA - 2013/10 TI - WRM Integrated Value Management of Oil & Gas Exploration and Production BT - Proceedings of the 2013 International Academic Workshop on Social Science PB - Atlantis Press SP - 358 EP - 361 SN - 1951-6851 UR - https://doi.org/10.2991/iaw-sc.2013.77 DO - 10.2991/iaw-sc.2013.77 ID - Fang2013/10 ER -