Applying Front End Loading FEL Approach to Rationalizing Heritage Petroleum Company Limited Forward Development Strategy

2021 ◽  
Author(s):  
Cherise M Ransome ◽  
Randell T Jackman
Keyword(s):  
Development Strategy ◽  
Joint Venture ◽  
Capital Expenditure ◽  
Growth Strategy ◽  
Resource Assignment ◽  
Main Field ◽  
Field Development ◽  
Company Limited ◽  
Level 1 ◽  
Petroleum Company

Abstract This paper presents the methodology used by the Offshore Business Unit of Heritage Petroleum Company Limited (HPCL), to reorganize its future development portfolio. This methodology enabled us to re-organize and rank future projects in order of 1) Developability, 2) Subsurface, Drilling, Flow Assurance and HSSE risks, 3) Financial indicators such as CAPEX and $/BOE, as an approach to maximizing return on investment whilst maintaining the stated goals of the company of monetizing our oil reserves and resources. Following the incorporation of HPCL, the organization attempted to embark on a production stabilization and growth strategy but faced challenges regarding financial and human resource allocation as well as understanding project development best suited for the mature 70 year kit it currently operates. There was a sizable Forward Drilling Campaign (FDP) that remained to be executed from the Legacy company, but there was a need to determine how best to proceed with it. The question was how can we optimize this FDP to attain Heritage’s goals in the short and near term. The answer resided in holding a Pre-Appraisal workshop. A Pre-Appraise Level-1 workshop was held analyzing risk and uncertainty for all future drilling projects. Key to understanding and quantifying inherent risks and opportunities was the presence of a full multidisciplinary team, which included subsurface, facilities, drilling, finance, planning and HSSE personnel. This approach yielded a list of future opportunities that best fit HPCL’s debt-to-capital ratio or debt service coverage position. It also helped to identify projects better suited for joint venture or external capital expenditure options. This workshop resulted in upper management having clear line-of sight regarding the project portfolio, and resource assignment. Once the projects were ranked and grouped, the process of calculating the associated investment to capitalize production across the entire lifecycle was undertaken. A matrix showing Dollar/BOE vs. Project Risk was then built for the new growth strategy. This tool allowed HPCL to select those opportunities that required minimum investment coupled with low HSSE risks. The Pre-Appraise Level-1 workshop guided HPCL to initiate the Shallow Forest Main Field re-development and the East Field drilling development projects as developments to undertake with least risk. The Main Field Shallow Forest Development requires the lowest CAPEX (Drilling and Facilities) and is capital efficient. The proved to non-proven reserves ratio is small (0.05) indicating a high developable remaining resource which will be accessible through secondary or tertiary methods. This approach to understanding development portfolios is new within HPCL; although it has been tried and tested by many operators worldwide when reviewing their capital projects. The Shallow Forest Main Field development carries a low risk profile and is being managed using the Capital Value Process. This project is now in the appraise stage.

Optimization Applied to Buzios Flexible Riser Systems and Subsea Layout

2021 ◽  
Author(s):  
Vinicius Gasparetto ◽  
Thierry Hernalsteens ◽  
Joao Francisco Fleck Heck Britto ◽  
Joab Flavio Araujo Leao ◽  
Thiago Duarte Fonseca Dos Santos ◽  
...  
Keyword(s):  
Deep Water ◽  
Technology Use ◽  
Capital Expenditure ◽  
Lessons Learned ◽  
Internal Diameter ◽  
Flexible Riser ◽  
Flexible Pipe ◽  
Injection Wells ◽  
Gas Field ◽  
Field Development

Abstract Buzios is a super-giant ultra-deep-water pre-salt oil and gas field located in the Santos Basin off Brazil's Southeastern coast. There are four production systems already installed in the field. Designed to use flexible pipes to tie back the production and injection wells to the FPSOs (Floating Production Storage and Offloading), these systems have taken advantage from several lessons learned in the previous projects installed by Petrobras in Santos Basin pre-salt areas since 2010. This knowledge, combined with advances in flexible pipe technology, use of long-term contracts and early engagement with suppliers, made it possible to optimize the field development, minimizing the risks and reducing the capital expenditure (CAPEX) initially planned. This paper presents the first four Buzios subsea system developments, highlighting some of the technological achievements applied in the field, as the first wide application of 8" Internal Diameter (ID) flexible production pipes for ultra-deep water, leading to faster ramp-ups and higher production flowrates. It describes how the supply chain strategy provided flexibility to cover the remaining project uncertainties, and reports the optimizations carried out in flexible riser systems and subsea layouts. The flexible risers, usually installed in lazy wave configurations at such water depths, were optimized reducing the total buoyancy necessary. For water injection and service lines, the buoyancy modules were completely removed, and thus the lines were installed in a free-hanging configuration. Riser configuration optimizations promoted a drop of around 25% on total riser CAPEX and allowed the riser anchor position to be placed closer to the floating production unit, promoting opportunities for reducing the subsea tieback lengths. Standardization of pipe specifications and the riser configurations allowed the projects to exchange the lines, increasing flexibility and avoiding riser interference in a scenario with multiple suppliers. Furthermore, Buzios was the first ultra-deep-water project to install a flexible line, riser, and flowline, with fully Controlled Annulus Solution (CAS). This system, developed by TechnipFMC, allows pipe integrity management from the topside, which reduces subsea inspections. As an outcome of the technological improvements and the optimizations applied to the Buzios subsea system, a vast reduction in subsea CAPEX it was achieved, with a swift production ramp-up.

Offshore Gas Field Development Strategy and Flow Assurance Prediction and Optimization in Harsh Environment

2018 ◽  
Author(s):  
Humoud Almohammad ◽  
Abdullah Al-Derbass ◽  
Abdulaziz Alsubaie ◽  
Mohammed Bumajdad ◽  
Abdulaziz Al-Khamis ◽  
...  
Keyword(s):  
Development Strategy ◽  
Harsh Environment ◽  
Flow Assurance ◽  
Gas Field ◽  
Field Development

scholarly journals Economic Development Strategy of Halal Tourism in Sembalun Lombok Timur

2017 ◽  
Vol 1 (2) ◽  
pp. 180
Author(s):  
Riri Lestari
Keyword(s):  
Higher Education ◽  
Economic Development ◽  
Development Strategy ◽  
Growth Strategy ◽  
Strategy Development ◽  
Employment Opportunities ◽  
Purposive Sampling ◽  
Economic Development Strategy ◽  
Hierarchy Process

Abstract The purpose of this research is to create Economic Development Strategy in Halal Tourism Area in Sembalun of East Lombok Regency and formulate economic development strategy by doing analysis of AHP (Analythical Hierarchy Process). How to take informants in this study using Purposive Sampling. Based on the results of the analysis and discussion that has been done before, the strategy of Economic Development of Halal Tourism Area In Sembalun, East Lombok Regency is still in the low category seen from the income of society and life is still very simple. To overcome these problems then need some strategies that are growth strategy, development strategy and equity, and strategy with insight of space. The criteria for economic development are 1) capital assistance for society (0.863) 2) IT based technology (0.819) 3) Increasing employment opportunities for the community (0.781) 4) Higher education 0.716 5) Reducing Unemployment (0.673).

Conversaziones, 1971

1971 ◽  
Vol 26 (2) ◽  
pp. 125-133
Keyword(s):  
North Sea ◽  
Oil Fields ◽  
Scale Model ◽  
British Petroleum ◽  
The North ◽  
Company Limited ◽  
The North Sea ◽  
Seismic Sections ◽  
Petroleum Company ◽  
Gas Fields

CONVERSAZIONES were held this year on 6 May and 24 June. At the first conversazione twenty-four exhibits and a film were shown. Dr P. E. Kent, F.R.S., and Mr P. J. Walmsley of The British Petroleum Company Limited arranged an exhibit demonstrating the latest progress in the exploration for hydrocarbons in the North Sea. The established gas fields and the recently discovered oil fields were shown on maps together with sections which illustrated their structure. Seismic sections and geological interpretations were exhibited to show the type of information being obtained in the North Sea and the structural complexities which arise. A scale model of one of the semi-submersible drilling outfits used in North Sea exploration was on display together with a sample of British North Sea oil.

Titan Company Limited: growth strategy

2021 ◽  
Vol 11 (3) ◽  
pp. 1-38
Author(s):  
K. S. Manikandan
Keyword(s):  
Growth Strategy ◽  
Executive Education ◽  
Limited Growth ◽  
Content Type ◽  
Post Graduate ◽  
Academic Level ◽  
Company Limited

Complexity academic level Post-graduate; Executive education; Under-graduate. Supplementary materials Teaching notes are available for educators only. Subject code CSS 11: Strategy.

A Critical Assessment of Environmental Degeneration and Climate Change

2013 ◽  
pp. 212-229 ◽  
Author(s):  
Christian Ploberger
Keyword(s):  
Climate Change ◽  
Soil Erosion ◽  
Development Strategy ◽  
Negative Impact ◽  
Critical Assessment ◽  
Growth Strategy ◽  
Strategic Decision ◽  
Environmental Challenges ◽  
Political Implications ◽  
The Impact

China and its population are confronted with fundamental environmental challenges, as both, environmental degeneration and the impact of climate change, exhibit critical social, economic and political implications for their future development. Among the various environmental challenges China faces, pollution issues, soil erosion, acid rain, and sea-level rise are identified. This variety of environmental issues increases the underling complexity of how best to address these challenges, especially as China’s growth strategy has the potential to exacerbate the negative impact on the environment further. The strategic decision which development strategy China will follow – a ‘growth first and clean up later’ or ‘cleaning up while growing’ – carries serious implications not only for the environmental situation in China itself, but for the global community as well.

A Critical Assessment of Environmental Degeneration and Climate Change

2011 ◽  
pp. 472-491
Author(s):  
Christian Ploberger
Keyword(s):  
Climate Change ◽  
Soil Erosion ◽  
Development Strategy ◽  
Negative Impact ◽  
Critical Assessment ◽  
Growth Strategy ◽  
Environmental Challenges ◽  
International Reputation ◽  
Political Economic ◽  
The Impact

China and its population are confronted with fundamental environmental challenges, as both environmental degeneration and the impact of climate change exhibit critical political, economic, and social implications for their future development. Among the various environmental challenges China faces, this chapter identifies pollution issues, soil erosion, acid rain, and sea-level rise. This variety of environmental issues increases the underling complexity of how best to address these challenges, especially as China’s growth strategy has the potential to exacerbate the negative impact on the environment further. Hence the question which development strategy China will follow–a ‘growth first and clean up later’ or ‘cleaning up while growing’–carries serious implications not only for the environmental situation in China itself, but for the international community as well. It is crucial to recognize that China’s multidimensional environmental challenges also carry critical implications for China’s international reputation.

Marginal Field Development Strategy: Malaysia Pm304 Cendor Field Success Story

2006 ◽  
Author(s):  
C.Y. McCants ◽  
Richard Hall ◽  
Brock Tuppeny ◽  
Keith Collins ◽  
Mohd. Khalid Jamiran and Stan Rae
Keyword(s):  
Development Strategy ◽  
Success Story ◽  
Field Development ◽  
Marginal Field

The Ichthys LNG Project: big, bold and beautiful

2013 ◽  
Vol 53 (2) ◽  
pp. 430
Author(s):  
Antoine Serceau
Keyword(s):  
Joint Venture ◽  
Oil And Gas ◽  
Capital Expenditure ◽  
Investment Decision ◽  
Weather Conditions ◽  
Subsea Pipeline ◽  
Central Processing ◽  
Pipeline Project ◽  
Construction Activity ◽  
New Construction

The Ichthys LNG Project is one of the most complex oil and gas developments attempted. It is three mega-projects in one: an onshore project, an offshore project, and a pipeline project. The onshore project is being developed in Darwin and involves two processing trains rated to produce a total of 8.4 million tonnes of LNG per year. Offshore, the central processing facility (CPF) will feature the world's largest semi-submersible platform. A substantial floating, production storage and offtake (FPSO) vessel, designed to hold more than one million barrels of condensate, will be stationed nearby. Both the CPF and FPSO will be permanently moored in an area notorious for cyclonic weather conditions and will be designed to withstand even the most extreme weather conditions for more than four decades. An 889 km subsea pipeline will link the Ichthys Field, 200 km off the Western Australian coast, to the onshore facilities in Darwin. This represents the longest subsea pipeline in the southern hemisphere and fifth longest in the world. A final investment decision for the project was announced in January 2012. This triggered intense construction activity and created hundreds of new construction jobs in Darwin and more globally. More than 4,000 direct jobs will be created at the peak of construction. An approved capital expenditure of $US34 billion by INPEX and the Ichthys Project joint venture participants shows a tremendous commitment to Australia. Since the discovery of the gas-condensate field in 2000, the Ichthys road has been one of identifying and overcoming geographical, political, technical, physical, financial, and commercial challenges. The Ichthys Project is a global effort, drawing on worldwide expertise to overcome these challenges and work towards first gas in late 2016.

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