How to Maximize the Value of Conventional Oil Reservoir Developments: Best Practices

WHO SHOULD ATTEND: Geoscientists, Reservoir Engineers, Production Engineers, Subsurface Managers, Asset Managers

COURSE DESCRIPTION: The primary objective of any upstream oil reservoir 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 with the advent of digitalization, Subsurface Excellence, Innovation, Automation, Machine Learning/Artificial Intelligence are key to “increasing the denominator” of the financial metric.

This class provides examples of how to maximize the value of exploiting a conventional reservoir development 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.