Control: 5.S.3 Production Promise Outcomes Agreed

Context

Opportunities can fail to deliver the value promised at Decision Gate 3 (DG3). The main issues are optimism bias in teams developing opportunities, lack of integrated risk and outcome range thinking, inadequate decision quality and insufficient ownership by the parties responsible for delivering and supporting delivery of the operational performance outcome. This includes both the hydrocarbon production and the Greenhouse Gas performance of the asset.

This control is needed to ensure that the main assumptions behind the key elements of the Production Promise (i.e. first 24 months start up ramp up and total production, scope 1 and 2 Greenhouse Gas performance and OPEX) are integrated across the value chain, stress tested to show the likely outcome ranges (including the effect of High Impact Low Probability events), benchmarked and validated against the value promised in the business case.

Activity

Ensure that the assumptions and inputs used for the key elements of the Production Promise at DG3 are integrated across the value chain, free from bias, and that significant opportunities and risks (including Greenhouse Gas performance) are transparent in the promised outcome ranges.

All projects shall document the basis for the Production Promise before DG3. Requirements for delivering the promised operational performance outcome must be fully integrated in the Project, including but not limited to the Basis for Design, Greenhouse Gas and Energy Management Plan, Project Execution Strategy, Commissioning and Start-up Strategy and Sub Surface Fact Sheet (for upstream assets).

The Production Promise must be owned and approved by the parties responsible for delivering and supporting the operational performance outcome.

Purpose

Requirements from other Standards

Evidence recorded in

Accountability for meeting Control Intent

Phase