SQUEEZING THE MARGIN - EXPERIENCE IN MANAGING LATE FIELD LIFE

The upstream industry on the U.K. Continental Shelf (UKCS) is maturing , and, despite considerable turmoil and change in the early 1990's, fu rther innovative approaches are necessary to achieve the fundamental s tep changes in performance required to sustain the business as real oi l prices touch 20-year lows. This paper describes the novel initiative taken by the upstream sector of British Petroleum (BP)-one of the wor ld's major oil companies-in 1994 with respect to four of its most matu re oil production fields. The changes made, including the new calls ma de on the work force and the marketplace for service delivery, and the results achieved are described. Clues about some of the key success f actors are given.