Novel Technology Solutions Enable Phased Field Development to Maximize Returns and Minimize Risks

Abstract

The downturn has impacted our industry in many ways, not only in terms of budget cuts and headcount reductions but also in changing the way organizations work. The downturn has enabled the creation of novel technologies and efficient development plans such as phased development and early production systems that are transforming the industry, and the increased collaboration between operators and suppliers has been unprecedented. This paper discusses recent technology developments that have and will continue to reshape the approach to phased field developments. For many years, the concept of phased field development has focused on reducing the expense of reaching first oil while planning the development for maximum recovery and deploying technology blocks that enable future add-ons for optimal asset return on investment (ROI). Game-changing efficiency resulting from earlier engagement with customers, paired with the latest technology and tools, can maximize the potential of a phased field development. Using real-world development data as a basis, this paper details how operators can use current technology and tools to enable efficient phased field development. The case study discusses the benefits of using integrated field development and planning solutions that provide operators and suppliers a robust cloud-based collaboration solution for planning and evaluating various field development options and associated cost and schedules estimates at the click of a button. The paper then shows the impact that technology such as all-electric solutions, boosting and compression, pipeline solutions, and modular product solutions can have on the decision-making process for upcoming projects.