Oil & Gas
Field Development Plan Forecast Revision using Client’s Simulation Output
Technical Studies
Africa
Field Development Plan Forecast Revision using Client’s Simulation Output
After restructuring of a joint venture, the production forecasts proposed in the Field Development Plan (“FDP”) for the client’s field were no longer suitable. The field was large and complex with stacked pay reservoirs to be developed with hundreds of producer and injector wells.
Project:
The client only had access to the simulation results used to generate the FDP forecasts, but wanted to run some sensitivity cases to scope a phased approach to the development, incorporating an initial phase at a certain plateau rate followed by a ramp-up to peak production.
Outcome:
Using its extensive experience in generating and reviewing FDPs, ERCE was able to propose realistic alternative plans for developing the field that met the client’s criteria and generate associated production forecasts that were fit for purpose.
Benefit
ERCE used its proprietary drill scheduling and constrained forecasting tools to repurpose the client’s simulation outputs and generate forecasts for various scenarios which reactively brought wells onstream as necessary to maintain the plateau. This approach enabled the client to assess the value of many alternative development strategies.