Aligning Field Development Options to Harsh Economic Conditions in an Offshore Brownfield in Malaysia

摘要

In the current period of industry downturn,creating and executing opportunities to develop an offshore brownfield has become more economically challenging.This paper describes the technical,commercial,and operational aspects that helped in achieving an established economical cut-off for project sanction.The project will enable sustaining field average oil production above operational economic limits thereby maximizing field life.With the prevalent low oil price conditions,the economic threshold for projects sanction and execution has reduced.The asset team faced a challenge to achieve a UDC threshold of USD16/bbl.Multi-disciplinary team was tasked to look at key aspects to improve project commerciality.Subsurface recovery potential was assessed thoroughly to evaluate the impact of subsurface uncertainty,and evaluate the impact on well designs on the project cash flow.Wells were designed to tap multiple reservoir targets to minimize subsurface risk through existing facilities to maximize ullage.The wells were drilled from new slots via small deck extension instead of the high-risk slot recovery option,which helped to reduce the Capital Expenditure(CAPEX).Fit-for-purpose and cost optimized wells were designed by minimizing automation(i.e.: ICVs,PDGs,etc.)which also reduced operating risk and cost.Multiple sands were targeted in different compartments with different pressure system,hence planned not to commingle production.Hence,only one primary reservoir was completed,with other zones kept behind casing for future intervention with bottom-up production strategy.This helped deferring the project investment as this was in the intervention cost in Operating Expenditure(OPEX)which helped to improve the project economics.Further cost savings were achieved by accelerating the project in order to achieve synergy with an upcoming drilling campaign.The reduction of the overall project CAPEX,thus allowed the project to be commercially feasible and technically sound for execution.In addition,the team has also established a reservoir management plan with mitigation plan to deal with the main subsurface and surface risks.The out of box solution of optimized field development plan for complex offshore brownfield with limited facilities modification,while being cost conscious but still ensuring technically sound concept proved to provide the answer for sustainable production growth in S Field at low oil price environment.This paper will also highlight the key lessons learnt and obstacles which were observed during the execution of the project are expected to become guidelines for future low cost projects in this region.