Specific production strategy which Petroleum Asset Team is following including annual schedule and budget allocation on:
| Investment targets |
| Surface facilities |
| Well drilling |
| Workovers |
| Surveillance |
| Studies |
| Recommendations (financial,operational and technological) |
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:
- Changes in market conditions (hydrocarbon price volatility, production cost variations, changes in facility, transportation and service logistics, appearance of new service technologies)
- Changes in corporate economics (variation in corporate discount rate, variation of liability)
- Changes in Petroleum Asset reserves structure or well/reservoir behaviour revealed during the execution of previous FDP
- Logistical mistakes of the previous FDP
- Deviations from previous FDP during production period which had a bulk adverse effect on the Petroleum Asset performance
There are basic regulations and guidelines on building MDP and building FDP.