BP is in the process of implementing a programme called FIELD OF THE FUTURE covering the development and deployment of technology and business process solutions to most aspects of oil and gas field operations – from reservoir to export, in both mature and new fields, onshore as well as offshore.
This program is focussed on leveraging real-time or near realtime data to improve both short-term operational performance and long term recovery. There are a number of challenges associated with this program, not least being that it has to be demonstrably focussed on the highest value opportunities in BP's portfolio, and that the content of the program needs to be seen to be value adding by the business. Both of these challenges require deep engagement with the business around the question of value – how it is defined, accessed and measured.
Further, since BP's program is impacting a number of its Business Units simultaneously, it is important that all lessons learned from the implementation of this program are shared as rapidly as possible. In many cases these lessons are not simple extensions of current practice but rather a very significant shift in the way of working which will have a profound and lasting impact on BP's operations.
This paper describes the approach that BP has taken to assessing the value opportunity from its FIELD OF THE FUTURE program, how it has been refined to address specific challenges in BP's businesses, how these are being measured and how they are being used to shape the content of the program for maximum impact.
The paper also describes the approach taken by BP in sharing lessons learned from the implementation of the program.