DRILL BIT SELECTION PROCESS MANAGEMENT & BIT PROCUREMENT STRATEGY

Jun 21st, 2015
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Alhambra Medical University
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The objective is to prepare a basic bit selection procedure for various types of rocks. A fresh approach is expected. Focus is to reduce drilling time and cost. Analysis of various contracting strategies in bit procurement is to be made.

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DRILL BIT SELECTION PROCESS MANAGEMENT & BIT PROCUREMENT STRATEGYSUMMER INTERNSHIP 2011A PROJECT REPORT SUBMITTED TORELIANCE INDUSTRIES LTDDRILLING AND COMPLETION DEPARTMENTEXPLORATION & PRODUCTION VERTICALBYPARTICIPANT NAME: ARUN KUMAR NIN PARTIAL FULFILMENT OF REQUIREMENTS FOR PGDM AT INDIAN INSTITUTE OF MANAGEMENT KOZHIKODEJUNE 2011ABSTRACTDRILL BIT SELECTION PROCESS MANAGEMENT & BIT PROCUREMENT STRATEGYArun Kumar NPGDM, IIM KozhikodeGuide: Ashutosh Rai, GM, D&C Department, Reliance Industries LtdJune 2011, 23 pagesThe objective of the project is to analyze the drill bit selection process and the bit procurement strategy and improve them. Drill bit selection very important in deep sea drilling and the cost impact could be 10-15% of the well cost even though the bit itself costs less than 0.5% of the total well cost. Various methods of bit selection were studied and evaluated. The method of bit selection scorecard has been recommended. Various strategies of drill bit procurement were analyzed, including the outright purchase, consignment basis and performance based method. It was found out that performance based contracting strategy is not widely used and hence an indirect method to implement the performance strategy through cost per foot analysis during bit selection has been advised. The use of cost per foot method has been advocated for drill bit selection and benchmarking previously used bits. When drilling in locations having familia

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