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Early Monetisation Projects

19 – 22 October 2014

Penang, Malaysia | Eastern & Oriental Hotel

About this workshop

Abstract

Minimising development time, and achieving first hydrocarbons within about 18 months is recognised as both a challenge and a goal.

Whilst maintaining the same basic workflow as a regular development project, Early Monetisation Projects (EMP) aim to progressively develop the full field potential, without shortcutting due process and review. The key concept that distinguishes between those that can and cannot be EMP is the ability to be selective, whilst retaining and indeed maximising integration, cost optimisation and risk management. Selectivity begins with determining target field sectors, and then integrating all commercial processes from subsurface resources, well planning, completions and drilling to surface facilities through use of smaller multi-disciplinary development-management teams. Balancing costs, value and risks are the key to making EMPs successful.

Successfully increasing oil and gas production requires a combination of developing new discoveries and maximising production from existing fields. The driver of early monetisation accelerates the development process, achieving a better investment return and improving oil and gas recovery whilst minimising financial exposure. As an oil industry professional or an investment consultant, it is important to understand the concept of early monetisation: the technical and commercial challenges and the strategy options for field development.

Benefits of Attending this Workshop

Take away practical insights, strategies and ideas from subject matter experts on:

  • Concept of early monetisation: the technical and commercial challenges
  • Refining workflows and establishing the minimum requirement
  • Reducing engineering time to subsurface basis of design
  • Strategy options for field development
  • Identifying critical paths and supportive approvals and regulation
  • Well construction time reduction and productivity enhancement
  • Understanding and managing risk to achieve better investment returns
  • Building a multi-disciplinary multi-task team

Objectives

This workshop provides a platform to share experience, learning, and best practices. Key areas to be addressed in the workshop include:

  • Current green field development and brown field re-development workflow review
  • Analytical methods, more efficient reservoir modelling  with automated approaches for determining reserves and reservoir performance
  • Managing the subsurface uncertainties and risks
  • Practical reservoir drainage and injection optimisation
  • Drilling and completion optimisation
  • Surface facilities synergies
  • Cost effective new or emerging technologies
  • EMP development and management integration
  • Fast-tracking procurement and approval processes
  • Balancing cost, risk and value

Who Should Attend

The workshop will benefit a range of oil industry professionals, particularly those involved in various phases of technical activity,  subsurface, drilling and surface facility engineering studies, and for those investing in, or managing,  brown field or marginal field development.

For further information on this workshop, please email Ivy Chan, Event Manager at ichan@spe.org or call +60.3.2182.3000.