Approach Maximizes Marginal Field Value by Going Back to Basics
This paper describes a revamped methodology for field-development strategy formulation, particularly for marginal hydrocarbon resources, by shifting the mindset toward designing with an aim to value in order to improve project viability.
Value is defined by a quantum of functions or returns received from resources invested. In extremely marginal oil and gas fields, returns hardly meet invested resources profitably. Stranded, widely scattered resources add to the complication. The complete paper shares an approach to notional well- and facility-development concept generation for such fields by shifting emphasis to designing for value to improve project viability rigorously.
Problem Statement Based on Case Study
Case study Field X, located offshore Asia, is one of many oil resources in the region with virgin reservoir pockets and layers that are marginal in volume yet can provide a considerable recoverable volume if developed collectively.