How MetaExpert Nilesh Helped an Oil Company Save $654K

July 23, 2020

Situation

A major in the Oil & Gas industry in Qatar noticed they needed some hardware and inventory management upgrades. The large steam drive oil field consists of over 8,500 active rod-pumped wells. These rods are the heart of the artificial-lift system, an essential piece to the oil field. Both the pumps themselves and the entire inventory management system needed upgrades to improve output and save money.

Actions: 

MetaExpert Nilesh was brought on board to implement these technical improvements as well as improve the inventory management system. VOC data was collected from the leaders at the senior and middle management levels. Nilesh took the following steps:

  1.     Number of pump designs reduced from 36 to 14
  2.     Inventory dropped from 280 to 45 pumps
  3.     Pump storage locations reduced from 10 to a single centralized facility
  4.     New dedicated-pump delivery service reduced rig standby time by 13%
  5.     Optimal setting of the internal pump clearance to maximize pump run life was identified

Results: 

  1.     Immediate realization of financial benefits on account of reduction of rig standby time and consumption of excess inventory
  2.     Control plans were put in place to sustain the gain
  3. Monthly monitoring of metrics was done to verify the predicted long-term improvements in pump run life

ROI: 

By improving and reorganizing the pumps and inventory management system, MetaExpert Nilesh helped save $654,000 from cash-flow release and interest on working capital.

To learn more about what Nilesh can do, view his profile.

Cara Chatellier

Cara Chatellier is a digital marketing strategist & content writer. She lives in the Boston area and has worked with MetaExperts since October 2018. She loves travel, wine tastings, and podcasts.

Recent Posts

November 18, 2021
5 Reasons Why Your Organization Should Embrace Digital Transformation

Digital transformation at the enterprise level is the dance between the art of the practical and the possible. It's best approached with a hands-on strategy in helping organizations come up with what they can do at present to attain their goals.  Digital transformation is a whole set of different tools, applications, and technologies that businesses […]

Read More
November 17, 2021
5 Reasons Why Organizations Find It Hard to Go Digital

Until 2021, only 15 percent of organizations had prioritized digital transformation, according to Forrester. These are low numbers, given that most companies and businesses were forced to shift online due to the pandemic. The remaining 85 percent of organizations are working extra hard to keep up with the numerous digital transitions, with little effect. Is […]

Read More
November 16, 2021
Operational Excellence: 3 Proven Ideas that Will Transform Your Operations

Your manufacturing business continually strives to maintain profitability, stay ahead of the competition, and keep pace with technological changes. In addition, achieving and maintaining operational excellence is a significant goal of your company's success. Undoubtedly, this has proven to be a challenge amid a global pandemic as supply chain delays, increased costs, and staffing shortages […]

Read More

Industry Experience

Aerospace
Chemical
Computer/Software
Construction
Consumer Goods
Defense
Energy
Entertainment
Financial Services
Food
Health care
Information Services
Insurance & Retirement
Manufacturing
Automotive
Complex Manufacturing
Media
Pharmaceutical
Pulp and paper
Retail
Steel
Telecommunications
MetaExperts™ a Division of MetaOps
MetaOps Logo Reversed Super Light

Contacts

10343 W RS Avenue, Mattawan, MI 49071, United States
734-425-1455
experts@metaexperts.com

©2021 All rights reserved, MetaOps, Inc.

Sitemap
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram