This session will discuss the strategies which are applicable to the EMP development process, and highlight where these differ from the conventional norms.
EMP implies fast-track schedule without compromising quality technical evaluation. This poses a challenge to technical professionals to achieve the right balance for timely delivery of economic development plans with reservoir complexities and uncertainties. The session will touch on models, methods, and workflows that address these challenges. It ranges from concepts to case studies, illustrating innovative methods or workflows that can or have resulted in improvement in the development planning time and commerciality of projects.
The ability to understand all upfront and underlying costs to enable the desired revenue and ultimately profit to be realised is critical to ensure successful implementation of EMP initiatives. This topic seeks to explore the key cost aspects associated with, but are not limited to, the following:
The outcome of the discussion is envisaged to be a framework/matrix that will provide key decision makers with an overview of the cost benefit of key issues that will affect the overall feasibility the project
Reservoir “sweetspots” in the field must be targeted in initial development drilling for early monetisation. Careful analysis of all available subsurface data is required to identify the uncertainties and the risks involved. Managing these may require additional data acquisition and prioritised drilling targets, introducing the concept of fall-back options. Inevitably, project economics will constrain the drilling and evaluation budget, so that optimum use of the available funds will be a key requirement.
Practitioners share their use of existing subsurface information in making the best assessment of uncertainty and the key potential risks ahead of selecting and prioritising drilling locations. Steps taken to reduce uncertainty and manage risk will be considered, together with criteria for acquisition of further data and down-hole tool selection.
Early Monetisation Projects is usually synonym to fast track schedule and one is of the current trends in oil and gas industry in order to remain competitive, to get faster return of investment and to optimise cost. To achieve the fast track schedule, procurement and approval process critical areas that play a significant role in determining the success rate of the project. Multiple perspectives and focus need to be considered in fast tracking the procurement activities and approval in enhancing the value of EMP in totality.
The session will include discussion on:
Consistent with the intent of the EMP’s goal and driver, the development of the associated facilities requires adaptation to the EMP requirement with emphasis on innovative fit-for-purpose design for cost effective solution. The proposed facilities solution for EMP development calls for attention to fast delivery lead time utilising on simple/standardised design, easy fabrication, on-shore commissioning, maybe single transportation offshore and fast installation. Synergies in terms of facilities sharing and even clustering with the neighbouring development are crucial for cost optimization purposes.
This session will include discussions on:
The success of an EMP project largely depends on efficient execution of a well-defined workflow for multidisciplinary planning. Well drilling and completion operations however involve challenging logistical issues and stringent regulatory constraints. Good understanding of these issues in the context of the target field, early planning of action strategies and integration of these issues in the planning and design work are the key to the success of such a field development project. With this view, the presentations in this session are expected to address the following key areas:
Global oil and gas supply is increasingly dependent on mature field production. However, operators increasingly face steep declines with daunting challenges. Timely planning and fast deployment of EOR strategies are key for ultimate commercial success of EMPs. Smart EOR Lifecycles reduce risks and maximise mature field economics by implementation of advanced technologies, intelligent agents, efficient data analytics and rigorous change management. This session will address the complexity of a holistic EOR Lifecycle from the design of injection strategy, selection of best reservoir models under uncertainty, early planning and scenario optimisation to the intelligent surveillance, operation and control. Innovative technologies with case studies and projects will include: