Key Features
Know where you are today, to take the right path tomorrow
In times of economic uncertainty, ongoing reviews of cost and duration performance are essential to the future of the oil and gas industry. Only by comparing yourself against other players in the market can you truly understand how competitive your projects are. The Performance Forum establishes a common terminology and consistency of data across Member companies to allow realistic comparisons between offshore, upstream production facilities.
At the heart of the Performance Forum is our PERFORMER database which contains cost, schedule, technical and business data for more than 700 offshore facilities of all sizes. Data has been collected for projects across the globe, covering the North Sea, Gulf of Mexico, West Africa, Asia, Australia, Latin America and Canada. Each project contains detailed information, captured at every level of the process using our proprietary Work Breakdown Structures. All project data is held in a secure, confidential environment.
Our unique method for collecting and analysing upstream data means we hold the most in-depth database of actual project costs in the industry.
The Performance Forum allows you to compare project performance on a range of unique metrics, that:
- Accurately reflect project outcome performance
- Include schedule-based metrics as well as cost and technical metrics
- Present a consistent and unbiased comparison between a peer group of companies
To ensure that upstream project data is kept up-to-date, Members provide datasets each year to reflect latest project developments. Estimates and forecasts can be collected in addition to final outcome data, allowing us to benchmark your project at any stage, pre- or post-sanction. Gap analysis can also be performed, allowing you to see which elements of a project performed better or worse than estimated. Our ultimate aim is to identify and encourage best practice to optimise cost performance across the whole industry.
Membership of the Performance Forum includes:
Industry Benchmarking Reports
- Providing up-to-date, independent reports on project performance across the global offshore industry for offshore facilities such as FPSO, conventional platforms and Subsea Tiebacks.
- Reviewing emerging issues facing the offshore industry, such as rising project management costs and the looming prospect of decommissioning facilities.
- Report topics are proposed by Members at the start of each year.
Benchmarking Metrics Library
- Access to our library of metric charts allowing you to find the industry standard cost or duration for each level of the facility.
Annual Performance Forum meeting
- Review results and discuss current issues in a Forum of all Members to allow the sharing of experiences and best practise
Analyst Contact
- Each Member is offered two meetings per year with the Performance Forum analysts to discuss key issues and our latest findings in a confidential environment. Analysts are located in Houston, Edinburgh and Perth, WA.
Bespoke studies for Members
- Members have the opportunity to request benchmarking services on their individual projects against data from the PERFORMER database. This can be done at any stage gate of the process.
Benchmarking Services
Set in motion strategies for success by comparing your project against your peers, other market players, or even your own past performance.
We can provide benchmarking services at any stage of the project development, pre or post-sanction.
Become a Member
Membership of The Performance Forum is available by annual subscription. For information on how to join, please contact us.
