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E-351 - Field Development Project & Uncertainties

5 days REE/FDP
Level
Proficiency
Audience
  • Managers, geoscientists, reservoir engineers and petroleum engineers willing to deepen their knowledge in development project and uncertainties management.
Purpose
  • This course provides an understanding of fundamentals of field development projects, from geology to hydrocarbons recovery, with a special attention to the risk induced by the project’s uncertainties.
Learning Objectives
  • Upon completion of the course, participants will be able to:
  • describe best practices of Oil & Gas fields development projects,
  • describe methods and criteria for economic evaluation of development projects,
  • describe main concepts and tools of risks and uncertainties assessment, included experimental design & response surface methodology.
Prerequisite
  • No prerequisites for this course.
Ways and means
  • Interactive lectures and exercises.
  • Field case study.

Economic evaluation of development projects 1 day
  • Development decision making process.
  • Projects economics: methods and criteria.
  • Oil tax legislation.
  • Types of petroleum contracts: concession, production sharing.
Field development project - Case study 3 days
  • From discovery to development of an oil field: methodology from a real field case.
  • Discovery phase: geological context, evaluation of reservoir properties, OOIP, reserves.
  • Appraisal phase: field evaluation after each appraisal well.
  • Development phase: several scenarios established from drive mechanisms definition and simulations.
  • Production profiles.
  • Surface/subsurface integration.
  • Field monitoring.
  • Economical evaluation of scenarios: CAPEX, OPEX, NPV, IRR, etc.
Introduction to uncertainties 1 day
  • Why quantifying uncertainties in reservoir studies?
  • Identification of the most influential static and dynamic parameters. Consequences on field evaluation and production forecasts.
  • Overview of the response surface methodology and experimental design approach.