Applied Field Development Planning

DESCRIPTION:

This course considers the technical and commercial influences on field development planning within the global oil and gas industry. It takes into account the need for understanding field development choice, resource size, facility choice and cost. The course is orientated to developing the multi-discipline skills required for field development planning.

Course Level: Skill

THIS COURSE IS DESIGNED FOR YOU, IF YOU ARE...

• A reservoir / petroleum / production / facility / drilling engineer
• A geoscientist

HOW WE BUILD YOUR CONFIDENCE:

• This is a five-day classroom-based course with lectures supported and illustrated by worked examples, case studies and follow-up exercises, group exercises and quizzes to give assurance that key learnings are accomplished.
• Since participants may have different levels of background in petroleum economics and statistics, there are additional pre-reading modules to ensure that the fundamental understanding of these topics has been established prior to the course.

THE BENEFITS FROM ATTENDING:

By the end of this course, you will feel confident in:

• Understanding the purpose of field development planning
• Critically analysing the principal technical and commercial features of oil and gas properties
• Having a deeper understanding of the role of risk and uncertainty when making field development planning decisions
• Understanding all aspects that appertain to field development planning, including resource size, resource location and reservoir production support mechanism
• Assessing the impact of field development choices on facility selection, sizing and costing
• Resolving the technical aspects into holistic understanding of the commercial worth of assets
• Developing a comprehensive understanding of how a field development project is managed the through key stage gates
• Managing the risk of the field development cost, schedule and operability throughout field life

TOPICS:

Estimating Resources

• The concept of value
• Geological issues - defining the static reservoir model
• Hydrocarbon issues - 'the fluids'
• Petrophysical properties
• Reservoir mechanisms
• Reservoir dynamic modelling
• Resource uncertainty

Estimating Costs

• Field development definition
• Well productivity
• Oil/gas/water profiles
• Secondary recovery
• Well test analysis
• Developing a drilling schedule
• Facility costs

Estimating Value

• Transportation costs
• Gas and gas condensate fields
• Commercial evaluation/fiscal regulations
• Onshore oil field development example
• Offshore and deepwater oil field development examples
• Gas value chain

Making Decisions

• Risk, uncertainty and making decisions
• Bayesian revision - value of additional data
• Probability estimation
• Correlations and dependent variables
• The value of information
• The value of intervention
• Production forecasting and surveillance

Project and Risk Planning

• Field development project planning
• Carbon capture and storage
• Well, reservoir and field management
• Roles & responsibilities
• Field development risk planning