Monday, September 30
Keynote Address (20mins)
Keynote Address (20mins)
The depressed oil price has spurred a new wave of innovation in oil and gas industry. When a barrel of oil fetched $100 or more, energy companies were focused on drilling wells and pumping crude oil as fast as they could. However, with oil price has settled around $50 a barrel these days, companies are focused on efficiency; getting the most petroleum for the least amount of money. And many are turning to advanced technology or innovation for help. This session will focus on innovative approaches to reduce cost for mature assets to sustain field life including technology, well types, business model, and resource management. This session also aims to address topics on improving recovery factor through innovative activities in production enhancement and optimization, and tertiary recovery method.
Abandonment of upstream oil and gas facilities is rapidly becoming one of the emerging business requirement for the industry in the region. Volatility and uncertainty of crude oil price on the other hand, has forced the industry to be more agile in its decommissioning planning, in order to respond to market dynamics in a timely and efficient manner. This is evident in the approaches adopted by industry players, in their decommissioning strategies and facilities simplification. Such approach is crucial since decommissioning brings minimal return to the owner. This session will discuss the various roles of industry players in managing decommissioning work during this challenging time, while striving to minimise the impact to the industry at the same time.
"In the middle of difficulty lies opportunity." ~Albert Einstein
Maximising hydrocarbon production at high level from a mature field is always a challenge. In this circumstance, the subsurface team tends to pick optimisation activities such as artificial-lift, waterflood, and infill drilling. However, these activities tend to maintain production or ramp-up production for a short period of time. Recoverable volumes from those activities still could not sustainably increase production to another level.
To boost-up production to another level, success in new field discovery and accelerate discovered resources to reserves and production seems to be the favourable option since it brings on new resources into a system. This session focuses on best practice approaches to monetise near field resources to prolong development of mature field. The discussion will be focusing not only on technical perspectives but also mindset and working culture issues. These are as follows:
- Prospect identification, evaluation, and ranking
- Appraisal and development strategy starting from data acquisition to monetisation
- Clustering and production tie-in methodology
- Cost management and efficiency
- Integration between exploration and development team
- Working culture and mindset
Tuesday, October 01
As more fields approach the tail-end of the production lifecycle and lose attractiveness, the formulation of new partnership models is crucial to sustain the appeal of late-life assets (LLA). This session will explore the various ways through which innovative partnerships and commercial arrangements are aligned with investors’ expectations to generate interest in LLA, starting with contrasting differences in operating environments of traditional assets and LLA, followed by discussions on available avenues to innovate commercial terms. This session will aim to address some of the following topics:
- The success of other basins in generating interest in LLA
- Regulatory challenges and opportunities to encourage involvement
- Revamping the fiscal terms of LLA to increase economic attractiveness
- The relevance of a new breed of lean, highly specialised E&P players
The reduction of field production, due to declining subsurface potential and operating beyond a facilities’ design life, presents safety and business challenges for the oil and gas industry. The business-as-usual operating model may lead to opportunity losses from these mature fields, largely contributed by a shorter economic life. Mature fields need to operate differently from when the production levels were high. Operators must be efficient and remain safe in maximising hydrocarbon recovery from declining fields, as well as lowering and optimising production costs. This session focuses on new thinking, approaches, and enablers to be considered by upstream oil and gas industry players during mature and late life operations, as well as asset life extension, with guidance from the Matured Field Operating Model (MFOM) Guideline, which was initiated and developed by PETRONAS.
Many producing assets globally have reached the mature phase of
development, which leads to many issues and challenges that a ects
the productivity and economic viability of these fields. Some of the
challenges include well integrity, flow lines, and facilities; production
bottlenecks due to the shift in gas, oil and water ratios;
erosion/corrosion; increased sand production and handling costs; high
chemical consumption and treatment costs; and obsolete monitoring
and control systems that are incompatible with new technologies.
Field operators are faced with the commercial decision, whether to
sell the asset to a low-cost operator, reinvest in the asset, or incur the
cost of decommissioning.
Additionally, in the era of digitalisation, technologies such as AI and
advance analytics still fall short. Harvard Business Review surveyed
thousands of companies about how their companies utilise AI and
advanced analytics, and the results show that only 8% of firms engage
in core practices that support widespread adoption. Most firms are
running ad-hoc pilots and applying advanced analytics or AI, in just a
This session is to allow operators to share real world experience of taking over and managing mature and late life fields. You will hear from our panel on how the deals were done, as well as, transition issues and the ongoing challenges they faced. Commercial structures will be discussed, personnel issues, knowledge and data management issues and challenges to operate, grow and extend field life with innovative ideas and a new thinking.
- The session will explore experiences of various operators who have taken over mature and late life assets both in the region and other parts of the world
- The case studies will address key issues such as manpower challenges, integrity and maintenance, exploitation and further development, knowledge and data challenges as well as regulatory and governance issues
- The session will allow parties to share and exchange experience, learnings and best practices to better navigate the process of acquiring, managing and further improving mature field and late life assets.