The program that is nearing completion at the moment is capable of making a valuable contribution to the Company’s operating and financial performance. Global experience shows that implementation of a new IT tool may reduce drilling costs by 3-10 percent on average and shorten unproductive time (including latent) by 0.7 percent. The average annual economic effect over the next five years of software package operation is estimated to be in the ballpark of $6-7 mln, which offers a quick payback of project investment. Unproductive time was reduced by 0.5 percent as early as 2011 upon partial implementation of some system elements (in particular, the Visualization and Monitoring Center).
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