THREE REASONS TO ATTEND:
- Learn how considering an asset’s development strategy and economics early in the field development process can help you reach your asset’s “end goal”.
Discover how to accelerate the field development process through data integration and workflow automation.
- Hear how the Holistic Field Development Planning™ solution can promote data-driven decision making
- E&P managers and vice presidents
- Reservoir engineers
- Surface facilities engineers
To assess the technical and commercial feasibility of developing discoveries made during the exploration phase or redevelopment of existing assets, the exploration and production (E&P) industry applies very well-known modeling and interpretation techniques in combination with optimization and uncertainty assessments. For instance, geoscientists apply uncertainty analysis to reservoir parameters; reservoir engineers apply optimization to maximize hydrocarbon production or to reduce unwanted fluids; and drilling engineers optimize well numbers, completion types, and construction in order to reduce drilling costs. However, no matter how optimized these individual models may be, it doesn’t guarantee an optimal asset solution.
With our Holistic Field Development Planning™ solution, the uncertainties and optimization processes are driven by the desired “end goal” for an asset within a company’s portfolio. The system considers the Field Development Plan (FDP) process as a “whole” and not as an addition or accumulation of parts. The Holistic Field Development Planning solution is an automated and, therefore, repeatable process whereby individual models are built and integrated through our DecisionSpace® platform. This allows users to change an asset’s desired “end goal” and to run the process with minimal user intervention, in addition to helping them analyze multiple strategies for the development of the asset. Individual models are built, updated, and maintained during the entire field development (or redevelopment) planning phase, and subsequently added to the Holistic Field Development Planning system in order to improve accuracy of the results over time.