Today more than ever before, driven by uncertainties in oil price and the need to reduce wastage including emission reduction as part of energy transition initiatives, there is a much higher expectation for the upstream industry to deliver on performance and efficiencies in all aspects of our business, which includes maximising wells deliverability. Our wells form a key component of the production system value chain, generating cash for the business. Maximising delivery of hydrocarbon molecules from new or existing wells is the core business, and the act of doing so very often brings joy to petroleum engineers. However, independent analysis has shown that Production Attainability from new wells range as low as 50%. Older wells which make up more than 70% of the total globally, tend to decline over time, some at a very rapid pace, and require constant attention to restore deliverability.
In recent years we have seen the expansion of new technology application in wells, for example, the use of remotely controlled smart completions and Autonomous Inflow Control Valves (AICD) in long horizontal wells, application of innovative low-cost yet high productivity monobore completions, or the use of highly efficient coil tubing methods to enhance well productivity. Wells deliverability is further enhanced at initial completion stage or later in well life by advancements in stimulation, perforation, and artificial lift methods. Wells deliverability enhancement extends into geothermal, heavy oil and other non-conventional projects, where maximising production and injection rates while maintaining well integrity is key.
LISTEN to in-depth technical presentations on the latest advancement in wells and completion for new delivery and restoration methods on existing wells, use of innovative production engineering techniques, and application of integrated digital production system optimisation
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