Manual Integrated Reservoir Asset Management: Principles and Best Practices

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Kuwait's oil and gas reservoirs shape one of the largest reservoir portfolios worldwide, meriting savvy and forward-looking reservoir management practices and workflows to maintain the country as a reliable supplier for many decades to come. Reservoir management can be defined as a body of principles, processes, and practices that collectively governs the way a field is managed. It is focused on the subsurface, but not exclusively. Reservoir management is a stewardship process that significantly impacts production performance, bookable reserves, estimated ultimate recovery EUR , and capital expenditures CapEx.

Kuwait Oil Company KOC has set out to optimize and standardize its reservoir management practices at a corporate level Capello et al. This journey is still in progress, and has several strategic objectives: a standardize reservoir management practices across KOC assets; b ensure the optimization of recovery factors and life of fields strategies for each reservoir enabling the simultaneous production of nearby, connected or stacked producing intervals, with different maturity levels; c extend production plateaus in time for each KOC asset; and d ensure the active participation in reservoir management activities of a skilled workforce.

The ultimate aim is to apply industry best practices in managing the oil and gas fields in Kuwait.

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A Steering Committee composed of 10 managers is charged with the implementation of reservoir management best practices policies and guidelines across all KOC assets. It was essential that management endorsed the initiatives and assured buy-in from other managers, team leaders and seniors in all assets and support organizations within KOC.

It is envisioned that these PIPs will impact and uplift the way all assets work, so technical staff participation and buy-in was paramount for a successful implementation. The approach taken by KOC merges technical emphasis and international best-in-class practices with change management and communication strategies to align efforts. Most importantly, this solidifies and builds commitment and a shared motivation to achieve common goals.

The units used in this book are typically oil field units. In Appendix A, the process of converting from one set of units to another is simplified by providing frequently used factors for conversion between oil field units and metric units. My colleagues in industry and academia, as well as the students in my multidisciplinary classes, helped me identify important and relevant topics that cross disciplinary lines.

Integrated Reservoir Asset Management

I am, of course, responsible for the final selection of topics. I would especially like to thank Kathy Fanchi and Chris Fanchi for their efforts in the preparation of this manuscript. John R. Fanchi, Ph. He holds the Ross B. Matthews Chair of Petroleum Engineering and teaches courses in energy and engineering.

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Before this appointment, he taught petroleum and energy engineering courses at the Colorado School of Mines and has worked in the technology centers of four energy companies. Theatre Schedule: Booth Which of these companies has their own responsibilities. The Requirements and Job Market, Three Fields, and the Future for Petroleum Engineers Abstract: Without question, the price of oil and energy has climbed and will continue to climb in the future.

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Taylor U. This article reprinted from: Laposata, M. The ESA21 project: Environmental science activities for the 21 st century. Finding and producing hydrocarbons.

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Copyright , Society. Rothwell Carolyn K. Hohne Stephen B. Cover image: The cover shows the combination of scientific visualization and. BOX J. Advances in Petroleum Exploration and Development Vol. Wiley Global Finance is a market-leading provider of over annual books, mobile applications, elearning products, workflow training tools, newsletters and websites for both professionals and consumers.

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