Olwg was established in July 2020 against a backdrop of the COVID pandemic. With a growing sense that cleaning up our air quality needed urgent practical action we felt the time was right to put our industrial experience to practical use. With over 20 years global oil and gas experience we set up Olwg to develop our own value-adding service in an ever evolving word.
The Traditional Way Versus the Olwg Way
Traditional engineering and commercial development assessments aren't always effective in leading to the 'right' answer.
Framing of engineering work scopes, and the associated engineering deliverables, are often focused on the rigours of the engineering process. Great care and attention put is put into well-written quality-assured technical reports and drawings. Less focus is put on the broader business usefulness.
Development concept evaluations are frequently not sufficiently broad enough to examine the full range of favourable technologies, project development phasing or contracting strategies. Plus Engineering solutions are usually only considered on a 'deterministic' (single-point) way. Risk and opportunities, although accurately highlighted, may then not be explored quantitively in project cost and schedule models.
Work flows are often disjointed between engineering and commercial disciplines and may suffer from a lack of integration. Engineers may produce work that is not relevant to concept screening. Or commercial modellers may misinterpret engineering output. Therefore work is passed between disciplines in a linear way which triggers the recycle of entire studies in the event that economic hurdles are not met.
Traditional Engineering concept evaluation can be a lengthy process. Recycling of deficient concepts could extend the time scale indefinitely. This can result in very high project costs.
The general need to meet development milestones may result in the sanctioning of a bad project rather than the right one due to running out to study all concepts. Poor outcomes may only be realised following the start up of a project.
This could be avoided using smarter integrated concept screening. This is where Olwg can add value.
The Olwg Way
Our answer to this at Olwg has been to develop a product to explore optimal development solutions with urgency an uncertainty in mind to support expedited investment decisions.
At Olwg we can provide a service based on shortcut routines to automate:
Using publicly available or open source data inputs we examine input and output ranges on a risked distribution ('stochastic') basis. This aids the understanding of the shape of the uncertainty.
Our in-house model can quickly examine a broader range of competing concepts or sensitivities. This helps us demonstrate to customers the 'correct' answer. We use visual analytics to aid the understanding between parameters.
We recognise that each 'problem' is unique. From the outset we aim to explore all of the customers':
Goals and constraints - technical, economic or anything else.
Organisational an stakeholder context.
Previous work and lessons learned.
For each problem we strive to deliver a basic cost effective concept exploration and screening service within 1 week.