As economic considerations become increasingly important and the price of oil commands decisions in relation to facilities adaptation to cater to new production schemes, it is important to know the new field development trends, grounded on integration and technology. The integration work flows are not fully well-understood or implemented in all companies, yet experts involved provide very valuable insight, although in their own discipline. More is needed to identify effective ways to integrate monitoring expertise from different disciplines, and industry and academic sectors will both play a key role.
Estimates of tight-reservoir hydrocarbon reserves continue to vary with uncertainty. What is known with certainty, though, is that current recovery rates are low and the upside is substantial. So, overcoming the challenges to reach more-aggressive, stretch targets in recovery and cost efficiency will be well worth the effort. The present business environment, though painful, presents an opportunity for the future. But, as always, collaboration across and among operators, technology and service providers, and academia will be necessary.
Many business and digital corporations claim that between 100 billion and 200 billion devices could be connected by 2020. Young engineers may not understand why it is not possible to access any real-time well data from his mobile device, understand its past performance, and allow the simulation of multiple scenarios to see what is the impact of decisions. With close to a billion people connected at any moment playing online strategy games, how is it possible that our industry is still so far behind with respect to the gaming philosophy?
Many of us have been so busy chasing the next well and the upcoming job that our skills in the area of optimizing our completions may have become a little rusty. Now is a great time to knock off that rust and revisit our best-laid plans. One way may be for you, alone or with your peers, to review the wells completed in your current project, or a subset of those wells, and figure out what went right and what went wrong. This deep dive into the details will often pay significant dividends in terms of understanding your current project. With that deeper understanding, you can develop an improvement plan for your current project or for your next project.