Improved Production Forecasting
We customise a tool with the asset team to meet their particular situation and decision-making needs.
Reservoir engineering, production planning and appraisal engineering/projects team members are all involved. Work is done both onsite and remotely.
Example output – full field oil profile with constraints and new projects.
Each coloured area represents production from an individual well or project (work-over or heel perforation)
Note: illustrative only – not real numbers
Quality production forecasting is critical for several business needs:
- Reserves reporting
- Underpinning investment and operating decisions (debottlenecking, maintenance levels, development activities)
- Assessing the impact of subsurface and surface uncertainties on the asset plan
- Understanding which questions to ask to challenge operators
- Achieving alignment with authorities and partners
It is also difficult to get right:
- Assets often systematically over or under-perform the forecast: this erodes credibility
- Lots of analytical complexity (constraints, deferments, rolling up uncertainties, multiple flow types)
- Difficult to integrate subsurface and surface factors
- Often needs to be done quickly with thinly spread resources
- Need to get multiple departments on the same page (operations, development, commercial, regulatory)
We have developed a process and tool that addresses these challenges, thereby improving the basis for decision making. To find out more please contact Ian Sollom: isollom@strategicfit.co.uk.
