Integrative project and asset management strategies to maximize gas production: A review of best practices
1 Shell Nigeria Exploration and Production Company Lagos. Nigeria.
2 Independent Researcher, Georgia, USA.
3 Independent Researcher, Nigeria.
4 Chevron Nigeria Limited, Nigeria.
5 Independent Researcher; Lagos Nigeria.
Review
World Journal of Advanced Science and Technology, 2022, 02(02), 018–033.
Article DOI: 10.53346/wjast.2022.2.2.0036
Publication history:
Received on 13 August 2022; revised on 20 November 2022; accepted on 24 November 2022
Abstract:
The growing demand for natural gas as a cleaner energy source has driven the need for optimized production strategies in the oil and gas sector. This paper reviews integrative project and asset management strategies designed to maximize gas production, drawing from best practices in the industry. The review highlights the critical role of strategic alignment between project management and asset optimization in achieving sustainable and efficient gas production. Key areas explored include the integration of predictive maintenance, digital twin technologies, and data analytics to improve decision-making and operational performance. Emphasizing a life-cycle approach to asset management, the paper discusses how proactive asset monitoring, risk management, and performance tracking contribute to long-term production efficiency. The importance of stakeholder collaboration and interdisciplinary coordination across technical, operational, and financial teams is also underscored, as it facilitates the seamless execution of projects from exploration to production. This review further examines case studies where digital tools and advanced project management methodologies have been successfully implemented to reduce downtime, optimize resource allocation, and enhance production capacity. Techniques such as Lean project management and Six Sigma are highlighted as effective in streamlining operations and reducing inefficiencies. The study concludes by discussing the future trends in gas production management, including the adoption of artificial intelligence (AI) and machine learning (ML) for predictive asset optimization and the integration of real-time monitoring systems for enhanced production forecasting. In summary, integrating advanced project and asset management strategies, with a focus on technology and collaboration, can significantly enhance gas production efficiency. By adopting these best practices, gas producers can meet rising global energy demands while maintaining operational sustainability and cost-effectiveness.
Keywords:
Gas Production; Integrative Project Management; Asset Management; Predictive Maintenance; Digital Twin; Data Analytics; Lean Management; Six Sigma; AI; Machine Learning; Operational Efficiency
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Copyright © 2022 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0