Abstract Despite the capital intensive nature of drilling operations, drilling analysis is not routinely practiced as it should be. This is understandable since drilling engineers are principally rewarded for well planning and well construction. Therefore, the need to encourage best practices and continuous learning is a key to drilling improvement. Otherwise, the history will repeat itself "If you always do what you have always done, you will always get what you have always got". In that purpose, the asset management tools and techniques introduced in this study can be effectively deployed in the analysis of drilling performance, they help to detect new opportunities, quantify and address removable lost time and analyse the major problems in a structured manner. The aim of this study is to provide drilling team with a significant process to improve drilling performance, and set up a benchmarking process that becomes "a necessity for survival" as soon as the organization realizes there is someone else doing the same thing but better. This paper illustrates a case study of Hassi Messaoud field, it follows these steps: What is the current performance in terms of time and cost? How do we benchmark with pacesetter in the area? How much this performance could be improved? What is the Road map of managing drilling performance in order to get improved? The paper ends up with a structured methodology presented in a simple process flow incorporating some of the asset management tools and techniques with the results. It represents the drilling performance management system that can promote drilling efficiency and ensures a continuous learning through systematic analysis of historical data, and thereby, challenge well planning and construction. Some enablers of the system are listed at the end. Then, conclusion and recommendations for further studies based on the system limitations are finally proposed. Introduction Drilling a well used to be very challenging project; this is mainly caused by the uncertainties that make the project over budgeted, in addition to the unforeseen problems that drilling engineers are supposed to take into account during the planning phase of the project, but, are the drilling engineers really analysing the problems in a structured way as it should be? Are the tools used in the analysis process really appropriate to the nature of the problems encountered, so they can save time and efforts? Drilling analysis is not routinely practiced as it should be. Usually, short meetings are organised to solve problems when they do occur, and decisions are taken to choose any alternative that might solve the problem or at least mitigate the effect of time delay. The aim in the development of this model is to develop drilling analysis methodology which ensures that encouraging results are being achieved by capturing best practices which will be incorporated in the next coming well design in similar area. Key Issues in Drilling Projects Each business has its own key issues that are crucial to its success, and drilling projects is not an exception. Previously, project success was defined as the completion of an activity within the constraints of time, cost, and performance. Today, the definition of project success has been modified. Harold Kerzner (2002) pointed out that project completion should be: Within the allocated time period Within the budgeted cost At the proper performance or specification level With acceptance by the customer/user Without disturbing the main work flow of the organisation In drilling business, there are several key business issues, for example: Time, cost, health safety and environment, technology application. Those key business issues have to be well managed for a successful drilling business.