It is often necessary to investigate the forecast uncertainty for a portfolio of fields or reservoirs to evaluate, for example, the risks and opportunities of an exploration portfolio, of a new business strategy, for an "urban planning" study or to evaluate uncertainty in the regional portfolio. It is important to understand whether the portfolio uncertainties are dependent or independent. Cases 1, 2 and 3 are often dependent with complex interactions of the parameters and strong inter-dependencies (both positive and negative correlations) and with common system constraints. In this case, a comprehensive Monte Carlo analysis of the system is recommended that includes all the complex system interactions. Aggregation tools are available in the industry to do this complex probabilistic aggregation after individual field forecasts have been generated; however, most IPSM tools have the ability to evaluate the system uncertainty for all assets concurrently and the latter approach would be preferred, but is sometimes considered too time-consuming.
Below is a list of basins and fields; however this is a short list since there are more than 65,000 oil and gas basins and fields of all sizes in the world. However, 94% of known oil fields is concentrated in fewer than 1500 giant and major fields. Most of the world's largest oilfields are located in the Middle East, but there are also supergiant ( 10 billion bbls) oilfields in India, Brazil, Mexico, Venezuela, Kazakhstan, and Russia. Add any basins or fields that are missing from this list!
Many reservoir engineers spend most of their time and effort forecasting for the long-term to meet business objectives where estimates of life-of-field production are required (reserves estimates, valuations of projects etc). However, a number of other business objectives require estimates of production to be made over shorter timescales (nominations under gas contracts, quarterly cash flow estimates and so on). Such a short-term production forecast requires no difference in approach, in principle, to a longer term forecast. However, the important factors affecting the forecast may be different to those affecting a long-term forecast. Many such factors are related to the performance of production and processing facilities or commercial considerations (such as seasonal variations in gas prices).
The complicated parent-child relationship in US shale fields is emerging as a turning point in the US shale revolution. One of the first executives to exploit tight oil says the issue will reverse the sector’s cumulative growth rate by 2025. Last year saw continued contraction in the seismic data-acquisition industry. With this drop in acquisition business, fewer seismic data-acquisition papers were published. Nevertheless, three very good SPE papers covering important acquisition and processing topics are featured here.
The basic objective of this course is to introduce the overview and concept of production optimisation, using nodal analysis as a tool in production optimisation and enhancement. The participants are exposed to the analysis of various elements that help in production system starting from reservoir to surface processing facilities and their effect on the performance of the total production system. Depth conversion of time interpretations is a basic skill set for interpreters. There is no single methodology that is optimal for all cases. Next, appropriate depth methods will be presented. Depth imaging should be considered an integral component of interpretation. If the results derived from depth imaging are intended to mitigate risk, the interpreter must actively guide the process.
This course is designed for petro physics and reservoir engineers who are involved in formation sampling and testing. To learn about reservoir characterisation using formation testers, to be able to interpret pressure and fluid properties, and to design a successful sampling and testing operation. This class is designed for geophysicists, reservoir engineers and any engineers involved or interested in wireline formation sampling and testing including petro physical engineers, production engineers and testing engineers. There are no special requirements for this course. It is recommended for participants to bring their own examples to contribute to course discussions.
Oil and Gas Innovation embodies the true driving force of growth in the oil and gas sector, innovation. We are a trusted, established and expert voice in this constantly changing industry. We pride ourselves in bringing industry related trends, news and results to our worldwide readers which is otherwise difficult to obtain. We do a great job highlighting your technology, which our readers want and need. Oil & Gas Technology connects growth and western markets across the oil and gas industry.
This year, as part of the Opening Ceremony, SPE brings you two panel sessions that will focus on the conference theme “Co-operating Towards a More Competitive Environment to Encourage Investment Projects.” The panels will represent two different perspectives—the investors and operators in the region. Digitalisation is emerging as a technological driver of change around the world and is transforming how companies in the oil and gas industry operate. A wave of digital technologies and initiatives are leading this new era of innovation and opportunity. Investments in programmes such as analytics, data science, artificial intelligence, cloud computing, and other emerging technologies are being pursued to improve safety, reliability, and efficiency with the expectation of delivering significant value through improved processes and systems.
Africa (Sub-Sahara) A drillstem test was performed on the Zafarani-2 well--located about 80 km offshore southern Tanzania. Two separate intervals were tested, and the well flowed at a maximum of 66 MMscf/D of gas. Statoil (65%) is the operator, on behalf of Tanzania Petroleum Development Corporation, with partner ExxonMobil Exploration and Production Tanzania (35%). The FA-1 well--located in 600 m of water in the Foum Assaka license area offshore Morocco--was spudded. The well targets Eagle prospect Lower Cretaceous resources. Target depth is 4000 m. Kosmos Energy (29.9%) is the operator, with partners BP (26.4%),