Tuesday, December 05
Current low oil price environment seem to continue in the short- and medium-term, and companies are increasingly focusing on maximising the value from operating its existing conventional oil and gas producing assets. As reservoirs are depleted, original production processes and infrastructure cannot manage efficiently the remaining hydrocarbon resources, therefore it is required to implement changes aimed to overcome constraints and/or system limitations. Best practices are producing new frameworks and processes to develop and implement optimization opportunities.
In this session, the panelists are going to cover the most recent advances in exploration, development, drilling, and production as core processes for production optimisation, and its tangible benefits on maximising the value of assets; the importance of developing a full life of field strategy to ensure a maximum economic recovery of resources; the operating philosophy that is behind the best practices on production optimisation; and the lessons and benefits gained from optimisation on unconventional fields.
Any effort to optimise production relies on the performance of staff and contractors and, in particular, the extent to which they collaborate. In too many situations organisations act in silos with insufficient knowledge sharing. In the worst extremes teams may have misaligned objectives or key performance indicators (KPIs) hampering any joint effort to maximise field value.
This session will discuss how organisations can be structured to unlock the combined talent of staff with expertise in reservoir, wells and facilities with the goal to optimise production. It will address models for operators to leverage the capability of contractors, and for NOCs to maximise the value they obtain from relationships with IOCs.
Wednesday, December 06
The fall in oil prices since 2014 once again highlights the need for more efficient production of oil and gas. This is coupled with a shift towards increasingly complex reservoirs and recovery processes. Extracting the value from every barrel means achieving the highest possible production, at the lowest possible cost, maximising the utilisation of wells and facilities and using the efforts of staff to maximum effect. Fortunately there have been significant advances is reservoir, wells and facilities technologies. The modern oilfield is increasingly digitised and the new generation of engineers and planners is digital-native.
In this session we will talk about the latest technologies and processes to optimise production considering reservoir, wells and facilities and the integration of these. Emphasis is on “leading” or “cutting edge” technology and practical application demonstrated through case studies. The session will address themes such as: improvements in field monitoring and control, the approach to and benefits of digitisation, and turning data into optimisation decisions.
As a result of any production optimisation plan, a list of resource requirement will be identified to support that optimisation. However, adding resources is not necessarily the main factor that support production optimisation. It is essential to have a smart strategy to prioritise, allocate and manage the resource plan to ensure having the maximum benefit. Systems and methods must be defined for managing production resources including scheduling production optimisation events relative to time intervals while maintaining collaboration among the resources. With focus also on reducing costs and creating value one must be equipped with proper planning tools, techniques and effective collaboration to produce highest possible throughput with the lowest possible inventory while ensuring high quality and delivery performance. Short, mid, and long term resource management plans need to be in place to ensure a flexible strategy is maintained that can directly influence and enhance decisions for production optimisation. One of the aim of the industry should be full wealth creation and economic growth through efficient resource management and allocation, adopting best practices worldwide and maximum exploitation of innovative techniques. In this session, the panelist will share their experience in resource management and how it impacted the production optimisation.