PETROENG 4022 - Integrated Field Development and Economics Project

Field Development Planning for oil and gas fields, gives an overview of the process and methods for developing an optimum plan for developing a petroleum deposit. Key project drive indicators are discussed and it is shown how various disciplines interact in their quest for maximising the value of a project. The course covers all aspects of field development planning, commencing with screening studies, after discovering hydrocarbons, to project sanction. In particular, it is shown that this development phase has the potential to add maximum value, when compared to all other phases of the life cycle, as such it is most critical. Critical aspects are presented in detail in terms of actual case histories. It is shown how a proper balance has to be struck among key elements: reservoirs, wells and facilities, not to mention the balance between minimising costs and maximising recovery. Other key essentials, such as flexibility and risk management are also covered.

The project is based on an actual data set involving an offshore project. The aim is to study the exploration results and to develop a recommendation for the optimum field appraisal plan. When the actual plan and data is revealed, the second part of the project involves the feasibility and derivation of the optimum development plan. Participants work in small teams and have to submit written plans and give presentations in front of a panel.