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Decisions in E&P ventures are affected by Bias, Blindness, and Illusions (BBI) which permeate our analyses, interpretations and decisions. This one-day course examines the influence of these cognitive pitfalls and presents techniques that can be used to mitigate their impact. Bias refers to errors in thinking whereby interpretations and judgments are drawn in an illogical fashion. Blindness is the condition where we fail to see an unexpected event in plain sight. Illusions refer to misleading beliefs based on a false impression of reality. All three can lead to poor decisions regarding which work to undertake, what issues to focus on, and whether to forge ahead or walk away from a project. Strategic thinking and planning are key elements in an organisation’s journey to maximise value to shareholders, customers, and employees. Through this workshop, attendees will go through the different processes involved in strategic planning including the elements of organisational SWOT, business scenario and options development, elaboration of strategic options and communication to stakeholders. Examples are provided including corporate, business unit and department case studies. This seminar will teach participants how to identify, evaluate, and quantify risk and uncertainty in everyday oil and gas economic situations. It reviews the development of pragmatic tools, methods, and understandings for professionals that are applicable to companies of all sizes. The seminar also briefly reviews statistics, the relationship between risk and return, and hedging and future markets.
Challenges In Drilling and Completion Of Extended Reach Drilling Wells with Landing Point Departure more than 10,000ft in Light/ Slim Casing Design. New Generation of HTHP Water Based Drilling Fluid Changing Conventional Drilling Fluids Solutions. Take Back Control of Your Capital Project with an EPC 4.0 Strategy Stratigraphical - Sedimentological Framework for the Thamama Group Development in the Western UAE Based on the Legacy Core Data: How the Key to the Future is Found in the Past. Ultra-deep Resistivity Technology as a Solution for Efficient Well Placement; Geosteering and Fluid Mapping to Reduce Reservoir Uncertainty and Eliminate Pilot Hole-first Time in Offshore Abu Dhabi, UAE. Performance Comparison of two different in-house built virtual metering systems for Production Back Allocation.
An early commitment to integrate MPD into an HP/HT drilling operation can make MPD more than just an enabling tool and turn it into a performance tool that offers significant operational benefits. The optimization model presented in the complete paper is the first multioperator offshore network-optimization model that considers decommissioning in the Netherlands. A study was required to determine the origin of the tremor, evaluate if it could be followed by other tremors in the future, and estimate its magnitude. A reservoir-monitoring system has been installed on a medium-heavy-oil onshore field in the context of redevelopment by gravity-assisted steamflood.
This paper presents a newly designed triaxial fracturing system and describes a series of experiments that verified the validity of tool-free chemical diversion for multistage fracturing of openhole horizontal wells. The case history presented in the complete paper describes the performance of an acid-fracturing intervention in an HP/HT well in which this intervention was the last procedure considered to evaluate the productivity of a Marrat Formation well.
In this paper, a new type of sand-consolidation low-viscous binding material, based on a combination of inorganic and organic components, is presented. Researchers have developed a novel water-based-drilling-fluid system compatible with deepwater HP/HT wells in the Lingshui Block on the basis of a conventional drilling fluid and further optimization. The combination of ultrasonic pulse-echo and flexural-attenuation measurements was adopted in this project in the South China Sea for cement-integrity evaluation. Weather conditions aging offshore facilities presented challenges during a monsoon in the South China Sea. This paper presents the results of a performance-improvement effort in extended-reach drilling (ERD) in three campaigns in the Huizhou HZ 25-4 oil field in the South China Sea.
An early commitment to integrate MPD into an HP/HT drilling operation can make MPD more than just an enabling tool and turn it into a performance tool that offers significant operational benefits. Achieving greater efficiency in perforation systems can help lower operating costs, particularly when completing long horizontal wellbores in unconventional plays.
The XamXung field offshore Sarawak, Malaysia, is a 47-year brownfield with thin remaining oil rims that have made field management challenging. The dynamic oil-rim movement has been a key subsurface uncertainty, particularly with the commencing of a redevelopment project. Energy consultancy Wood Mackenzie estimates the find holds some 2 Tcf of gas, making it this year’s seventh-largest discovery worldwide. The state-owned firm is looking within its home country, around Southeast Asia, and to the Americas—including shale—in an effort to maintain its forecast average yearly production of 1.7 million BOE/D over the next 5 years. Malaysia’s Petronas, Shell Malaysia, and Thailand’s PTTEP are now in the midst of full-scale digital adoption.
Saudi energy minister warns speculators not to bet against the OPEC+ alliance. The $20.7-billion agreement is the single-largest energy infrastructure investment in the region. The most recent hydrocarbon production boom is under way in the Middle East, and this time, the race is spilling into offshore waters. The companies will focus on research and development to reduce CO2 emissions and promote the circular economy. ADNOC’s drilling subsidiary has increased its rig fleet to 95 and plans to add “dozens” more by 2025.