Specific production strategy which Petroleum Asset Team is following including annual schedule and budget allocation on:
| Investment targets | Annual P&L schedule |
| Surface facilities | capacity and tech spec of metering, production gathering, injection, water supply, on-site fluid processing, utilizations and pipelines |
| Well drilling | quantity and types (producers, injectors, observers) and completion strategy |
| Workovers | quantity and types |
| Production planning | Average and/or individual targets (producers, injectors) |
| Surveillance | quantity and types |
| Studies | quantity and types |
| Recommendations | financial, logistical, operational and technological |
The newly explored field 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.
See also
Petroleum Industry / Upstream / Production