Operators manage a diverse portfolio of assets in different regions, onshore or offshore, oil or gas, greenfield to brownfield. As commodity markets change, so do the priorities for allocating resources to achieve an optimal economic return. Portfolio management must also take into account commitments to partners and government regulators.
Resoptima solutions ensure that you have an articulate and robust business case to share with decision-makers and other parties. This includes not only the projected rewards in terms of operational or economic benefits, but also, after reviewing many scenarios, a comprehensive assessment of the risks involved.
What to drill, and when to drill
Our detailed modelling and analytical tools manage uncertainties and properties on a grid cell basis, making it possible to evaluate the impact of individual boreholes whether existing or planned. In one project we were able to ascertain with the customer that some of the projected infill wells would not contribute any additional production. Removing them from the schedule saved considerable expenditure and increased the ROI of the infill drilling program significantly (read more here).
In another field, a modelling and analysis project was done for an infill drilling program taking place towards the end of the field’s economic viability. It concluded that while the proposed wells all made positive contributions to the economics of the asset, drilling the wells earlier that initially scheduled would result in a significant improvement in NPV (read more here).
The ability to analyze a current or future model of a reservoir in its static and dynamic dimensions requires analytical tools that are fit for purpose and designed to provide a clear picture of the alternatives at hand, the risks and the rewards. Resoptima worked with some of its long-standing customers to scope, design and build a product that would leverage the powerful information encapsulated in ensembles to deliver actionable insights.
Using machine learning, statistics, analytics and powerful visualization tools, this new product IRMA is changing the way operators plan field activities and allocate resources. Read more about it here.