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How to Maximize Upstream Exploitation Value (Conventional Reservoirs)

Rajan Chokshi, PhD

INSTRUCTOR: Srini Prasad
DISCIPLINE: Engineering
COURSE LENGTH: 1 Day (Classroom) / Two 3.5-Hour Sessions (Live Online)
AVAILABILITY: Public, In-House, & Live Online

 

WHO SHOULD ATTEND: Reservoir Engineers, Production Engineers, Subsurface Managers, and Asset Managers.

COURSE DESCRIPTION: The primary objective of any upstream oil field development should be to make the right sanction promise and then meet/beat the promise (recoverable volume, production, cost and schedule estimates).

It is critical to select the right subsurface development, then execute/operate it in a manner to meet the above objective. The subsurface is the foundation of an upstream oil/gas company. The right reservoir rock and fluid characteristics are key to getting the best returns on your investment and sustaining the long-term health of the company. A key financial metric is the cost/barrel. In today’s world, especially with the advent of digitalization, Subsurface Excellence, Innovation, Automation, Machine Learning/Artificial Intelligence, are key to “increasing the denominator” of the financial metric.

The workshop provides examples of how to maximize the value of exploiting a conventional reservoir development (thereby also getting a more effective carbon footprint) by applying these principles of subsurface excellence, innovation, and digitalization. It identifies value enhancement levers all the way from the Appraise to the Operate stage of the development.

COURSE CONTENT:

  • What has Changed?
  • Typical Exploitation Stages of a Conventional Reservoir Development
    • Expectations for the Appraise(A)/Select(S)/Define(D)/Execute(E)/Operate(O) Stages
  • How to Bolster Performance/Reduce Discovery-Start-Up Time
    • New Appraise, Select, (Think Agile!) and Development Stage Philosophies
    • Leverage Subsurface Excellence, Digitalization
  • Do the Right Subsurface Development/Do it Right
    • Utilize Four Subsurface Excellence “Evaluation Lenses”
      • Benchmark recoverable volume per completion and recovery factor estimates
      • Robust Production/Recoverable Volume Forecasts*
      • Reservoir Well Surveillance and Management to deliver the sanction promise
      • Recovery Factor Technical Limit Study: Maximize ultimate recovery
  • How to Sustain/Enhance Well Health Leveraging Robotic Process Automation Based Well Surveillance
  • How to Maximize Waterflood Recovery
    • Track/Enhance Injected Water Efficiency
    • Leverage Machine Learning: Enhance performance after acquiring enough data to train the algorithm
    • Modify rock-fluid wettability with designer cocktail
  • How to Address Cultural/Organizational Issues

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