Specific production strategy which Petroleum Asset Team is following
There are basic regulations and guidelines on building FDP.
The first FDP is based on the primary exploration data package and booked reserves and called Master Development Plan (MDP)
Multi-year production may reveal the need to revise FDP for various reasons:
- The changes in market conditions (hydrocarbon price volatility, production cost variations, appearance of new service technologies)
- The change in corporate economics (variation in corporate discount rate, variation of liability)
- The change in asset reserves structure or well/reservoir behaviour revealed during the execution of previous FDP
- Logistical mistakes of the previous FDP
- Deviations from previous FDP