This paper examines the application of mechanical specific energy optimisation techniques in cost reduction through prediction of optimum ROP using real-time drilling parameters data and intrinsic formation data acquired during the actual drilling process. In fields where offset well data exist accurate field penetration rate benchmark can be established aiding cost Optimisation. In recent times, the global number of deep water wells drilled has risen with the oil price, however growth is patchy and the actual spending on wells is rising rapidly. Spending surge on drilling cost impacts on the bottom line performance and sustainability of E&P business. Therefore the need for drilling performance improvement as operational cost reduction initiatives has become a critical industry goal. This study show that in most cases, drilling progress could be raised by 30 – 60% compared to best offset well performance. It also highlights drilling flounder (point at which the penetration rate stops responding linearly with increasing weight on bit) during the drilling process enabling informed decisions towards improving the drilling process with the overall goal of achieving lowest cost per foot drilled.

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