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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.
Learn more about training courses being offered. Learn more about training courses being offered. This course covers the fundamental principles concerning how hydraulic fracturing treatments can be used to stimulate oil and gas wells. It includes discussions on how to select wells for stimulation, what controls fracture propagation, fracture width, etc., how to develop data sets, and how to calculate fracture dimensions. The course also covers information concerning fracturing fluids, propping agents, and how to design and pump successful fracturing treatments. Learn more about training courses being offered. Current and future SPE Section and Student Chapter leaders are invited to engage and share.
ExxonMobil’s rig automation experiment is accelerating, with plans to push the number of rigs in the system from three to nine. Drilling efficiency was improved by use of an automated pipe-handling system, which reduced the median time required for connection at one location by 20%. What is the Future Demand for Petroleum Engineers? Artificial intelligence can do some things faster and better than humans can. But that may allow engineers to focus on higher-value tasks.
It is a myth that blowouts only occur in high-pressure wells. Being able to investigate the blowout and kill potential on every well as part of the well construction process is an opportunity to increase safety awareness among drilling engineers. The industry worldwide has been swayed by the digitization wave. Extreme downhole conditions may lead to rapid degradation of pumped cement. The understanding of degradation of cement under such conditions is imperative to bring about improvements in the cement formulation.
The complete paper discuses a well with a history of sand production that exhibits long cyclic slugging behavior. In the complete paper, the authors reduce nonuniqueness and ensure physically feasible results in multiwell deconvolution by incorporating constraints and knowledge to methodology already established in the literature. In the complete paper, a novel hybrid approach is presented in which a physics-based nonlocal modeling framework is coupled with data-driven clustering techniques to provide a fast and accurate multiscale modeling of compartmentalized reservoirs. Fit-for-purpose tactics likely will be of ever-increasing focus going forward. If it is not adding value, it should not be done.
This paper presents the basic concepts and architecture of the Eni Reservoir Electromagnetic Mapping borehole electromagnetic mapping system that integrates borehole EM methodology with surface EM methods to provide real-time mapping of reservoir-fluid distribution during production or injection. An intelligent drilling optimization application performs as an adaptive autodriller. In the Marcellus Shale, ROP improved 61% and 39% and drilling performance, measured as hours on bottom, improved 25%. With their gee-whiz—albeit artificial—intelligence, robots may be the industry’s answer to jobs deemed dangerous, dirty, distant, or dull. A test showing that it’s possible to automate the billing process for produced water hauling has opened the door for tracking a wide range of field activities.
One of the frustrating aspects of well-productivity analysis is identifying the causes of lower-than-expected production/injection during initial well lifetime. Our task is to evaluate the multivariate aspects of well design. Wells in deepwater reservoirs show significant rate decline with time as the result of various causes. A diagnostic tool for quantification of factors influencing well-productivity decline is presented in this paper. The success of water-conformance operations often depends on clear identification of the water-production mechanism.