Field Development project

The aim of the project is to produce a technical and economic analysis of a prospective oil field, leading to the production of a development plan, which is suitable for presentation to Management. preliminary exploration work and the data are available. But they have moved on, so you need to look at what data there is, how it relates to doing an FDP and how reliable the data is. The first thing is to assemble all of the data, make a mind map of what you need for an FDP , then compare what you need with the data and see what is missing, what is incomplete and what can be used. The essence of the FDP is to deal with uncertainty and lack of data. So some of the reports etc. refer to data that is not in the dataset and you need to figure out what to do, where to get the data or what to assume, and to justify what data you use and what analysis techniques you use. To start off the project, you need to do the following: 1. Find out what an FDP is and who requires them (UK government), then look for an example (there is an example presentation of a different field (Y) but it contains analysis on the issues you need to identify). 2. Summarise the learning outcomes of the taught modules in a mind map and think about the connections between the issues and the data and how that fits with the objectives of an FDP 3. Review the data in the dataset and confirm the existence (or otherwise) of the data you require. 4. Make a schedule and plan of the main outcomes (STOIIP, reserves, production profile, number of wells, development scenario etc.) 5. Start to define the data for specific issues and calculate the values required. 6. Review the process regularly (you define the time period) and update the data required, analysis etc. 7. Once the production profile is roughed out, look at the development scenarios possible for the field and confirm the economic analysis (calculations) for each scenario so that you can rank the options. 8. Iterate until you reach a development scenario that you can justify A written (typed) report, as brief and concise as possible, summarizing the conclusions Geology : top structure, lithology, core data, reservoir description Reservoir Engineering: well test analysis, PVT data, recovery method Drilling: drilling schedule, directional planning, casing design, mud programme Production Technology: completion design, gas lift, surface facilities,pipelines Economics & Commercial : cost estimates, cash flow, IRR, sensitivity Negotiations analysis Reservoir Management: production plan & Monitoring Environment Impact: steps taken to bring the impact of the project on the & Abatement environment to within acceptable limits, including decommissioning Overall Report: integration, structure and quality