Here's how you can effectively manage finances in a drilling engineering entrepreneurial venture.

The budget is the number one priority after establishment of your footprint. You must consider all specifics (specialty experienced personnel, safety, investments long and short term). Stick to your timelines without variance, stay focused on the goal and mindful of time/material/safety precautions.

Drilling Operations has lot of uncertainities and planning of it relies on accuracy of subsurface data for smooth execution. Thus, Risk management is very important while planning budget for drilling operations. Risks are various depending on subsurface and surface (geopolitics and community). A conservative risk evaluation approach may kill the prospect. Risk optimization plays an important role here.

Ls creación de un presupuesto es la base del negocio, sin embargo llevar a cabo licitaciones y cotizaciones dentro de este proyecto, evita sin duda alguna una mala planeación así como un plan presupuestal más certero.

OnShore & Offshore sites are major factor, In one of our prospective projects in US Gulf, despite considering all contingencies, an ocean going barge hit one of our equipment causing huge issues. So contingencies and relevant insurance should be adequately considered

Todo controle deve iniciar pelo entendimento da dinamica do empreendimento, juntando as pessoas com as etapas de controle e monitoramento, para que a base do or?amento inicial seja realizado dentro do contexto, onde a execu??o terá papel fundamental nas decis?es que poder?o melhorar ou n?o as margens; atualizando as necessidades de melhoria.

Un presupuesto bien elaborado, ayuda significativamente en la reducción de los costos, pues al haber realizado un estudio previo puedes tomar decisiones correctas, (a veces la opción mas barata no es la mejor), por lo que la opción que se considere debe ser viable considerando tres aspectos importantes: eficiencia eficacia y tiempo).

Indeed, Cost rationalization would be more appropriate as vendor consistency, safety and work quality and efficiency outpace plain cost cutting. Project timeline should be key in addressing cost determination as time overrun is bigger than cost overrun

A redu??o de custos pode parecer necessária para a viabilidade de alguns projetos e pode ser alcan?ada negociando melhores pre?os com fornecedores, investindo em tecnologia eficiente, otimizando a for?a de trabalho, realizando manuten??o preventiva e avaliando continuamente os processos operacionais. Manter um fundo de contingência para imprevistos também é crucial. Essas estratégias ajudam a economizar sem comprometer a seguran?a e a qualidade do trabalho.

Cost cutting is poor choice of words here. Its 'penny wise and pound fool' approach. Instead estabiling learning curve and idenification of FAT expenses which can be reduced or eliminated by operational optimization or synergy is smart. Just pure cost cutting results in a phase where people with non relevant skill or expertise are hired because they can be paid less but ends up causing irrepairable damages. For some reason, it has been an observation that easiest target for cost cutting is manpower and associated expenses which in reality are lowest as compared to all other expenses. Maintaining Engineering Integrity and ensuring Operational Safety is must.

It is critical to review all invoices in detail vs awarded bid terms, MSA’s, actual work performed, etc. Due to the high volume of drilling invoices received during ongoing operations and planning it can be difficult. However, in my experience 20-30% of invoices are in error and corrections can result in significant savings. Capitalize on quick payment and volume discounts. Reconcile invoices often vs budget/AFE line items to catch anomalies and to improve future budgeting. It is also key to accurately track downtime vs contracts and to reveal problem trends to mitigate.

Sin duda alguna uno de los temas más interesantes, cuidar del flujo, pues este es la base principal, tener al personal calificado cuidando los aspectos más importantes (cxc y cxp).

Very important! Market instability and fluctuations cause the most cash flow abruptions, margin money and forward transactions depend hugely on these factors

O monitoramento do fluxo de caixa na engenharia envolve acompanhar todas as entradas e saídas de dinheiro do projeto. Isso garante que sempre haja fundos suficientes, evitando atrasos ou interrup??es. Também permite identificar e corrigir desvios do or?amento, antecipar necessidades de financiamento e tomar decis?es importantes sobre investimentos e cortes de custos. Em resumo, é essencial para manter a saúde financeira e o sucesso dos projetos de engenharia.

Important keypoints: 1. Excellent contract team with SM-Expertise to ensure T&C with client or vendor covers all financial aspects and risks. 2. From operators persective, FIRST OIL has been key to ensure cash flow. Also, advance planning of surface facilities is a must. 3. From service company persective, dedicated team to ensure timely preparation, verification, submission and follow-up on invoice is important. 4. Scope of adaptibility in financial process, WBS structures and utilization Project Management tools helps digital mapping of CAPEX and OPEX.

Long term project require more investments in safety & efficiency augmentation while short term into footprint. Balance between reinvesting and payout is crucial to maintain project credibility and keeping low cost of funding and insurance

While inevitable, debt has to be rightly priced and constantly rotated to avoid overmounting, also right balance between capital and working debts helps in better debt service and credit building

Flexibility in business model is something which is usually asked from Vendors. Studying and establishing different type of custom tailored or preset business models helps understand the associated risks and build up required mark up to keep these model profitable. This preparedness keeps you ready with T&C cases which will safeguard the business financially in any model.