Petroleum reserves
This paper presents three examples covering both gas and oil fields at different stages of their lives that show how estimated ultimate recovery (EUR) and the corresponding range of EUR uncertainty varies over the life of each field.
Since the late 1930s, the offshore industry has advanced from the first platform in 14 ft of water to the ultradeepwater 20K era. Driven by seismic, drilling, and development breakthroughs, the industry has pushed into deeper waters, high-pressure reservoirs, and new frontiers like Guyana, continually expanding the limits of offshore exploration.
The SPE Oil and Gas Reserves Committee has opened a period for public comments and feedback on the current 2018 PRMS.
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This paper describes a development plan for an oil field discovered in a remote offshore environment in the Niger Delta that uses a probabilistic approach to estimate the STOOIP using low, mid, and high cases. -
The paper provides insight into managing reserves and resource information during a merger through description of a case study.
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The authors present a countrywide benchmarking of ultimate recovery factor for oil reservoirs in Kuwait.
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The authors write that the deterministic incremental reserve assessment method may mislead investors if used wrongly.
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E&P independent Energean has awarded Halliburton a contract to provide services for drilling up to five wells offshore Israel in collaboration with Stena Drilling.
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The complete paper outlines some of the challenges involved in late-life field management and how Reserves assessment may be affected.
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During the past decade, hundreds of unconventional oil and gas projects have failed to deliver the value sought by shareholders.
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Even without the black swan event of COVID-19, the industry must critically examine the technical, commercial, and operational bases of the projects it proposes and executes. A logical, reasonable, ethical, and philosophical approach is critical to underpin good decision making and value creation.
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The UAE produced 4 million B/D this year and is looking to these newly discovered resources to reach 5 million B/D by 2030.
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This latest find means the offshore driller has averaged at least three new discoveries each year since it began drilling offshore Guyana where it plans to recover up to 8 billion barrels of crude.
