Increasing Economic Value for Offshore Marginal Field Development Through an Optimization Production Development Strategy

Penulis

  • Arif Rakhmawan PHE ONWJ
  • Yudi Budiansah PHE ONWJ
  • Alvin Wirawan PHE ONWJ

Kata Kunci:

Optimization, Marginal Field, Artificial Lift, Project Economics

Abstrak

The main challenge in developing marginal field is the geographical conditions of the region, which consisted of a scattered platform and contained a small amount of resource. Conceptual phase studies for new "X" Field development have been performed, but shown pessimistic outcomes. Economic indicators show that New X field development has an Internal Rate of Return (IRR) of 9.4% and Net Present Value (NPV) of negative $ -1.2 M. Synergistic development strategy between Subsurface and Surface facilities needs to be applied to increase the economic value of the project. This paper will present the development plan of X green field development that will cover comprehensive analysis of subsurface, surface facility designs and economic aspects of field development. The idea is to optimize the production strategy in order to obtain bigger resources in same structure. Considering reservoir condition and fluid characteristic, there are three types of artificial lift used in reservoir simulation: Gas Lift from Compressor, In Situ Gas Lift and the use of Electric Submersible Pump (ESP). Each of these artificial lift options will be exercised completed with several impacts on the surface facility design. The use of flexible pipeline as the new technology is covered in this study to optimize CAPEX of the facility. Project economic is then run after calculating the cost estimation of each option. In the end, the In Situ Gas Lift option is selected as the best option which will increase resource to 3.16 MMBO (from 2 MMBO originally), reduce the total CAPEX for field development about $ 1.8 M, achieve positive NPV about $ 13.5 M, increase IRR to 28% and speed up the payback period of three years.

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2023-05-12

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