DEVELOPMENT OF THE IAGIFU-HEDINIA FIELD, PNG FOLD BELT: A MULTI-DISCIPLINARY RESERVOIR MANAGEMENT SUCCESS STORY

2000 ◽  
Vol 40 (1) ◽  
pp. 546
Author(s):  
J.J. Hebberger Jr. ◽  
S.P. Franklin ◽  
W.H. Uberawa ◽  
A.M.Pytte
Keyword(s):  
Seismic Data ◽  
Net Present Value ◽  
Reservoir Management ◽  
Oil Field ◽  
Fold Belt ◽  
Present Value ◽  
Success Story ◽  
Reserve Estimation ◽  
Field Development ◽  
Government Relations

Iagifu-Hedinia oil field was discovered in 1986 in the remote Highlands of PNG following a multi-year exploration effort. Exploration and subsequent field development of PNG's first petroleum export project were carried out without the aid of seismic data due primarily to the intense karst development in the area. Because of historically low oil prices and the remote and difficult environment, the decision to develop the field did not occur until late 1990. First oil was produced in June 1992, with successful development dependent upon an intense focus on cost management, land owner and government relations, and most critically an early commitment to active reservoir management by an empowered and multi-disciplinary reservoir management team (MDRM team). This MDRM team added as much as an incremental 70 MMBBL oil and US$240 million of net present value to the project. This resulted from its being given responsibility for reservoir characterisation, reserve estimation, economic analysis, and active reservoir management. At its core the team consisted of both petroleum engineers and earth scientists, but incorporated numerous other disciplines as they were needed. Key to this success was the support and endorsement of management to a truly empowered team.

scholarly journals SELECTION OF ALTERNATIVES FOR OIL FIELD DEVELOPMENT BY GENETIC ALGORITHMS

2002 ◽  
Vol 1 (2) ◽  
Author(s):  
Yvan J. Túpac ◽  
Marley Maria B.R. Vellasco ◽  
Marco Aurélio C. Pacheco
Keyword(s):  
Genetic Algorithm ◽  
Net Present Value ◽  
Oil Field ◽  
Oil Reservoir ◽  
Present Value ◽  
Field Development ◽  
Oil Field Development ◽  
The One ◽  
Genetic Algorithm Model ◽  
Selection Of

This paper presents a Genetic Algorithm application for selecting the best alternative for oil field development under certainty. The alternatives in this study are related to the arrangement of wells in a known and delimited oil reservoir and serve as a basis for calculating the net present value, which is used to assess the optimization process: the optimal alternative is the one that maximizes the Net Present Value of the field. The results obtained have revealed that the Genetic Algorithm model was able to find good alternatives for the oil field development, achieving good results for the Net Present Value.

scholarly journals SELECTION OF ALTERNATIVES FOR OIL FIELD DEVELOPMENT BY GENETIC ALGORITHMS

2002 ◽  
Vol 1 (2) ◽  
pp. 51 ◽  
Author(s):  
Yvan J. Túpac ◽  
Marley Maria B.R. Vellasco ◽  
Marco Aurélio C. Pacheco
Keyword(s):  
Genetic Algorithm ◽  
Net Present Value ◽  
Oil Field ◽  
Oil Reservoir ◽  
Present Value ◽  
Field Development ◽  
Oil Field Development ◽  
The One ◽  
Genetic Algorithm Model ◽  
Selection Of

This paper presents a Genetic Algorithm application for selecting the best alternative for oil field development under certainty. The alternatives in this study are related to the arrangement of wells in a known and delimited oil reservoir and serve as a basis for calculating the net present value, which is used to assess the optimization process: the optimal alternative is the one that maximizes the Net Present Value of the field. The results obtained have revealed that the Genetic Algorithm model was able to find good alternatives for the oil field development, achieving good results for the Net Present Value.

SURFACE FACILITIES FOR OILFIELDS IN THE SOUTH AUSTRALIAN SECTOR OF THE COOPER BASIN

1986 ◽  
Vol 26 (1) ◽  
pp. 470
Author(s):  
R.J. Scanlan ◽  
C.J. White
Keyword(s):  
Net Present Value ◽  
Task Force ◽  
Development Project ◽  
Project Planning ◽  
Present Value ◽  
The South ◽  
Field Development ◽  
Variable Nature ◽  
Wide Range ◽  
Cooper Basin

Delhi Petroleum Pty Ltd, as operator, has been responsible for the development of eight oilfields in the South Australian sector of the Cooper Basin since 1982. Some of these field developments are economically marginal, hence the need to optimise those aspects of the facilities which impact on the ongoing cost of production and the overall profitability. A phased development approach has evolved over the past three years to reduce the external financing requirements and to improve the certainty of the data used to define the key elements of each project.For the successful completion of the project a task force approach to project management is utilised, supported by the use of computerised project planning and control systems. Further, it is important to define and agree on the design criteria and philosophy for the project at the commencement, this providing a base by which to measure scope changes, and so that all concerned are working to a common goal.The use of economic analysis as a decision-making tool during all phases of the project assists the project team to home in on the key objective which is to maximise the project net present value. Comparative economics and sensitivity analysis are used at the conceptual stage to select the preferred development option, e.g. pipeline versus trucking.The design of surface facilities is dictated by a wide range of criteria including the above development philosophy. The variable nature of these criteria demonstrates that each new field development must normally be engineered individually to ensure the target of maximum net present value can be achieved.The Gidgealpa Crude Oil Development Project demonstrates the effectiveness of the above methodology and philosophies. The field was discovered in August 1984, and early production and trucking of oil commenced in January 1985 with 374 000 bbls produced prior to commissioning of the pipeline to Moomba in September 1985.

Economic Risk Analysis of Offshore Projects

1992 ◽  
Vol 114 (3) ◽  
pp. 165-174 ◽  
Author(s):  
E. M. Bitner-Gregersen ◽  
J. Lereim ◽  
I. Monnier ◽  
R. Skjong
Keyword(s):  
Net Present Value ◽  
Oil And Gas ◽  
Development Project ◽  
Oil Field ◽  
Economic Risk ◽  
Gas Field ◽  
Cost Overruns ◽  
Field Development ◽  
Project Assessment ◽  
Oil Field Development

A quantitative analysis of economic risk associated with large investments in offshore oil and gas field development and production is presented. The analysis is intended as a supporting tool in decision-making faced with uncertainty and risk, to study the effect of alternative decisions in an easy manner. The descriptors for the project assessment, such as the Internal Rate of Return (IRR) and Net Present Value (NPV) are applied. The study demonstrates first the impacts of early pilot production (EPP) prior to a main oil field development on the field economy of an oil field development and production installation. Furthermore, the result of cases which reflect relevant situations connected with cost overruns are presented, as well as derivation of rational decision criteria for termination/continuation of a project subjected to cost overruns. Finally, an oil field development project scheduling is demonstrated.

Quantitative 4D Seismic Assisted History Matching Using Ensemble-Based Methods on the Vilje Field

2020 ◽  
Author(s):  
Konrad Wojnar ◽  
Jon S?trom ◽  
Tore Felix Munck ◽  
Martha Stunell ◽  
Stig Sviland-Østre ◽  
...  
Keyword(s):  
Decision Making ◽  
Seismic Data ◽  
History Matching ◽  
Reservoir Characterization ◽  
Reservoir Management ◽  
History Match ◽  
Field Development ◽  
Qualitative And Quantitative ◽  
Reservoir Models ◽  
4D Seismic

Abstract The aim of the study was to create an ensemble of equiprobable models that could be used for improving the reservoir management of the Vilje field. Qualitative and quantitative workflows were developed to systematically and efficiently screen, analyze and history match an ensemble of reservoir simulation models to production and 4D seismic data. The goal of developing the workflows is to increase the utilization of data from 4D seismic surveys for reservoir characterization. The qualitative and quantitative workflows are presented, describing their benefits and challenges. The data conditioning produced a set of history matched reservoir models which could be used in the field development decision making process. The proposed workflows allowed for identification of outlying prior and posterior models based on key features where observed data was not covered by the synthetic 4D seismic realizations. As a result, suggestions for a more robust parameterization of the ensemble were made to improve data coverage. The existing history matching workflow efficiently integrated with the quantitative 4D seismic history matching workflow allowing for the conditioning of the reservoir models to production and 4D data. Thus, the predictability of the models was improved. This paper proposes a systematic and efficient workflow using ensemble-based methods to simultaneously screen, analyze and history match production and 4D seismic data. The proposed workflow improves the usability of 4D seismic data for reservoir characterization, and in turn, for the reservoir management and the decision-making processes.

Heavy Oil Field Development And Reservoir Management Challenges In Producing Onshore Shallow Reservoirs In Suriname

2006 ◽  
Author(s):  
Ganesan Nadeson ◽  
Kartoredjo Harold ◽  
Kathleen Moe Soe Let ◽  
Bisshumbhar Rekha ◽  
Bhagwanpersad Nandlal Soerin
Keyword(s):  
Heavy Oil ◽  
Reservoir Management ◽  
Oil Field ◽  
Field Development ◽  
Oil Field Development ◽  
Shallow Reservoirs

THE SALADIN OIL FIELD

1989 ◽  
Vol 29 (1) ◽  
pp. 212
Author(s):  
A.M. Tait ◽  
R.M. Bartlett ◽  
M.J. Sayers ◽  
M.K. McLerie ◽  
D.M. McKay
Keyword(s):  
Shallow Water ◽  
Seismic Data ◽  
Oil Field ◽  
Offshore Platforms ◽  
Seismic Line ◽  
Field Development ◽  
Carbonate Cement ◽  
Oil Storage ◽  
Treatment Facilities ◽  
Northwest Australia

The Saladin Oil Field is located immediately east of Thevenard Island, 25 km northwest of Onslow, in the Barrow Sub- basin, northwest Australia. Saladin 1, drilled in 1985 on a structure mapped from 1984 and older seismic data, tested 47° API oil at 875 kL/d (5510 B/D) from the Early Cretaceous Barrow Group. Additional shallow- water seismic was shot in 1985 and a Telseis* survey conducted in early 1986 over Thevenard Island and its fringing shoals. Saladin 2 in 1986, and Saladin 3 in 1987, tested at 1745 and 1790 kL of oil per day respectively (10 975 and 11 280 BOPD), setting successive Australian single- zone flow records. The fourth well, Saladin 7, was drilled in 1988 on a 1987 seismic line and tested at 1720 kL of oil per day (10 820 BOPD).The oil occurs in southeast- dipping Barrow Group sands overlain by and upthrown against Muderong Shale across the northeast- trending Saladin Fault. The Barrow Group sands have porosities around 24 per cent and permeabilities averaging 5- 6 darcies. Some claystone layers are present, and carbonate cement reduces porosity but less so permeability in parts of the oil column. A bioturbated sand has low permeabilities due to clay burrow- linings.Oil- in- place is currently estimated at 11 MkL (70 MMBBL). Field development will involve offshore platforms and deviated wells from Thevenard Island, on which oil storage and treatment facilities will be placed, and an offshore loading terminal for tanker transport. First oil production is scheduled for mid- 1989.

The expected net present value of crosswell seismic data

1997 ◽  
Vol 16 (9) ◽  
pp. 1262-1265
Author(s):  
Brian Fuller
Keyword(s):  
Seismic Data ◽  
Net Present Value ◽  
Present Value

Oil field development optimization with seismic data

1989 ◽  
Vol 8 (7) ◽  
pp. 15-22
Author(s):  
Philip H. Halstead ◽  
Edgar L. Berg
Keyword(s):  
Seismic Data ◽  
Oil Field ◽  
Field Development ◽  
Oil Field Development
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