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RES 423

Integration of Geomodelling, Flow Simulation and Economics in Field Development

COURSE SCHEDULE

Code Date Location price (€)*
RES 423 13 - 17 May 2024 Online 1990
RES 423 5 - 9 Aug 2024 Online 1990
RES 423 15 - 19 Jan 2024 London 3990
RES 423 1 – 5 Jul 2024 Stavanger 3990

* Prices are subject to VAT and local terms. Ph.D. students, groups (≥ 3 persons) and early bird registrants (8 weeks in advance) are entitled to a DISCOUNT!

COURSE OVERVIEW

This course is 90% practical work where participants will have the opportunity to apply in detail what they have learned in the “Geomodelling, Flow Simulation, Economics & Uncertainty in Field Development Planning” by constructing from scratch, a static and dynamic model of an offshore field which has several reservoirs some with undersaturated oil, others with gas caps.From the constructed static models, participants will learn how to compute in place resources (Oil, Associated gas and free Gas) before moving onto the dynamic part of this course, and simulate flow in the various reservoirs. Based on the drive mechanisms, participants will be expected to test various development scenarios of vertical versus horizontal wells, well placements (producers and injectors) and analyse oil evacuation options (pipeline versus FPSO) as well as different gas handling solutions.
Having determined the optimal Field Development Scenario, students will learn how to estimate Reserves, and run full costings and economics (cashflow model) and determine key Economics metrics (NPV, IRR, etc.) the exercise includes a Risk/ Ranking and a Final Investment Decision (FID). This module runs on PETREL, PETREL RE and ECLIPSE or FRONTSIMS Simulation software (All Schlumberger Products). Students will therefore be expected to have a basic knowledge and familiarity with these applications.
Full dataset, instructions and guidelines are supplied (which the student gets to keep). Each day begins with a 1 hour (maximum) lecture to help the students begin their day’s work and assignment.

COURSE OUTLINE

5 days
Day 1

o Review Field Data Supplied
o Prepare Workflow Schedule

Day 2

o Complete Static Model
o Facies Modeling
o NTG & Porosity Modelling
o Porosity & Permeability Law
o Kh & Kv Modelling
o Sw Modelling
o Resource Estimates (Oil, Ass. & Free Gas)

Day 3

o Move to Dynamic Modeling
o Initiate Model
o Field Development Planning
o Vert. vs. Hor. Well Scenarios
o Number of Wells (producers/ Injectors)
o Optimal Well Placement
o Gas Handling Scenario
o Production Profiles
o Recoverable Resources (Oil, Ass. & Free Gas)
o Compare to Static Model

Day 4

o Finalise FDP
o Finalise Production Curves
o Run Economics
o Oil price model & Income
o CAPEX/ OPEX/ ABBEX
o Royalties & Taxes
o Cashflow Modelling/ Simulation
o Economic Metrics & Benchmarking

Day 5

o Complete Economics
o Complete Presentation
o Present Results, conclusions & Recommendation

INSTRUCTOR

Jean-Marie Questiaux

Jean-Marie Questiaux

FAQ

DESIGNED FOR

The course is designed for Petroleum Engineers, Drilling Engineers, Geologists, Petrophysicists, Geo-modelers and Reservoir Engineers.

COURSE LEVEL
  •  o Intermediate to Advance

LEARNING OBJECTIVES

Participants will learn:
o  Construct a static and dynamic model that they can flow and use to design a Field development Plan
o  Fluid contacts, transition intervals, drive mechanisms and their impact on the number of well and their placements (Producers and Injectors). Flow Performance and Productivity.
o  Various scenarios and test them in a flow simulation
o  Familiarize with Flow simulation outputs and what they mean
o  Determine Resources in Place and Recoverable and their range
o  Finalize the FDP: Platforms (size and number) Number of wells (Producers/ Injectors) Types of wells (Vertical versus Horizontal); Oil evacuation (Pipeline/ FPSO). Gas handling (Flare/ Re-inject/ Export) etc.
o  Assess all Costs (CAPEX/ OPEX/ ABEX). Asses Income, Royalties & Taxes
o  Run a cashflow simulation and determine key Economic metrics (NPV/ IRR etc.)
o  Assess technical and economic merit/ risks of this Field Development and rank them.
o  Defend merits of their proposed Field Development Plan before Peers

REGISTER

Registration is now OPEN!

* Prices are subject to VAT and local terms. Ph.D. students, groups (≥ 3 persons) and early bird registrants (8 weeks in advance) are entitled to a DISCOUNT!

For more details and registration please send email to: register@petro-teach.com

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