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Mature Assets: Learning from the Past, Planning for the Future

24 – 25 February 2014

Muscat, Oman | Al Bustan Palace

About this Workshop

Abstract

The SPE library is filled with hundreds of papers that repeatedly mention of a dismal 35% average recovery factor in most fields and a desire to push it up. Yet we are far from this dream except in some selected fields. This is in spite of all the technology, all the talent, and all the resources that oil industry has. Even though the oil is more precious now than it was in the past. In this workshop, we will explore the obstacles that have stopped us from going beyond the 35% magic number and identify the solutions that can overcome these barriers. Is it technical, is it business, is it lack of focus, is it expertise, or is it just a mind-set in companies that needs a shift from new developments to management of mature assets. If we define mature fields as the ones that have produced more than 50% of their EUR, than some 70% of oil is being produced from these mature assets. That is how valuable and precious these fields are. Yet mature fields are very low in the portfolio of opportunities in many companies.

With 90 million bl/d, we are extracting some 33 billion barrel of oil every year. Only a fraction of it is being replaced by new discoveries. On the other hand our energy needs are growing every day, with more and more people getting behind the wheels in developing countries. With 70% production coming from mature assets, and 65% of original oil in place expected to remain locked in these assets with current practices, we know where to strike—proper management and a focus on mature assets. 

We will explore ways of exceeding beyond 35–45% recovery factor in mature assets. If we want to do anything, the time is now. New discoveries are diminishing, oil price is healthy and stable, there is a flurry of new technologies to help us, and EOR is coming back with a new beginning. But we need to do something fundamentally different in order to get a different result. We need a paradigm shift, not just small fixes.

This workshop will discuss many different aspects of mature assets in various sessions. 

 

Workshop Guidelines

Format

Two (2) days of informal discussions prompted by selected keynote presentations and discussions. Workshops maximise the exchange of ideas among attendees and presenters through brief technical presentations followed by extended Q&A periods. Focused topics attract an informed audience eager to discuss issues critical to advancing both technology and best practices. The majority of the presentations are in the form of case studies, highlighting engineering achievements and lessons learnt. In order to stimulate frank discussion, no proceedings are published and the press is not invited to attend.

Documentation

  • Proceedings will not be published; therefore, formal papers and handouts are not expected from speakers.
  • Work in progress, new ideas, and interesting projects are sought.
  • Professionally-prepared visual aids are not required; handwritten view graphs are entirely acceptable.
  • Note-taking by participants is encouraged.

Attendance

Registrations will be accepted on a first-come, first-serve basis. The Steering Committee encourages attendance from those who can contribute to the workshop most effectively either in discussions or with posters. A mix of attendees in terms of geographic origin, companies, and disciplines will be encouraged.

Workshop Deliverables

  • The Steering Committee will appoint a “scribe” to record the discussions and to produce the full workshop report for SPE.
  • This report will be circulated to all attendees as the workshop deliverable within 4–6 weeks following the workshop. The copyright of the report is with SPE.
  • PowerPoint presentation materials will be posted on a specific SPE URL address after the workshop. Provision of the materials by the speakers will signify their permission for SPE to do so.

Commercialism

In keeping with workshop objectives and the SPE mission, commercialism in posters or presentations will not be permitted. Company logos must be limited to the title slide and used only to indicate the affiliation of the presenter and others involved in the work.

Attendance Certificate

All attendees will receive an attendance certificate attesting to their participation in the workshop. This certificate will be provided in exchange for a completed Workshop Questionnaire.

Continuing Education Units

Attendees at this workshop qualify for SPE Continuing Education Units (CEU) at the rate of 0.1 CEU per hour of the workshop.