Wells will often intersect several oil and gas layers that could potentially be put into production. Over the entire well stock of an operator, this represents a significant number of opportunities, with implications for the value of the field, future production volumes and workover planning.
Evaluating this many opportunities and keeping them up to date takes up a lot of engineering time, if it is attempted at all.
Automatic, Periodic Evaluations
- Automatic, periodic evaluations of each of these opportunities by estimating its production potential from offsets producing from the same layer, just as a petroleum engineer would do manually.
- These forecasts can be enhanced using feature extraction and machine learning techniques – to incorporate reservoir and other data that have proved predictive of production performance.
Added Value Gained
- At-a-glance, up-to-date inventory of this type of opportunities which are a significant part of an asset’s value
- Accelerate production
- Improve capital allocation
- Plan future production and workover activity
- Saves time for Engineering team
- World-class offshore oil field operated by Middle Eastern NOC