Using the PetroVisor™ platform, the operator delivered an NPV improvement of $751 million (34%) and reduced CAPEX by $15.4 million (34%).
A National Oil Company in the Middle East wanted to implement an automated process for improving new well placement and identifying workover candidates in an offshore field to stabilize well production declines. In the field, there were numerous locations identified for new wells through infill drilling, along with producing wells that were candidates for workover. The PetroVisor solution was selected to help develop and implement streamlined processes for evaluation, focusing on wells with the highest estimated production and return on capital. Multiple applications and databases were linked through the platform to evaluate and rank the opportunities. This automated process allowed the best candidates to be identified in days as opposed to the previous manual process that took months and sometimes years.