TLC management: The key to reducing Opex

Increasing sensitivity to crude-oil price fluctuations will require operato rs to reduce costs for drilling, completion, and production operations. A k ey component of this strategy is collaborative management of equipment asse ts by operators and suppliers to reduce cost over the complete Life cycle o f the equipment. This paper analyzes the benefits derived from through-life -cost (TLC) management programs undertaken with customers worldwide to redu ce operating expenses (Opex).