Implementing and scaling an oil and gas asset management system in LUKOIL OJSC

Due to the company’s growing number of oil and gas assets and migration of the majority of sites  to the active production phase, optimization of the company's asset management system, based on project principles and management best practices to make the achieving of asset strategic goals more transparent was required.

ITPS developed core project management processes and tools based on international best practices: 

• Long-term planning of key asset decisions and events and decision quality evaluation methodology
• Calendar planning and methods of tracking calendar plan performance by asset
• Financial and economic modelling and cost management
• Asset risk management and risk assessment methodology
• Communication/notification and asset knowledge management

For distributed process support:

• A corporate information system for project management was developed and implemented
• A training system for the processes and information system was developed

A support system for the processes and information system was developed.

ITPS consultants facilitated use of the oil and gas asset management system.

Using ITPS as a reliable and highly competent partner with extensive experience in project management significantly contributed to the project’s success V.V. Mikhailov, Igor Yelovikov

Director for General Issues of LUKOIL Overseas Karachaganak B. V., director of the Industry Competence Center for the Oil and Gas Company Integrated Management System of LUKOIL INFORM