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, pipelines and utilization |
| Well drilling | Quantity/Types (producers, injectors, observers) and completion strategy |
| Workovers | Selection/Types/Frequency |
| Production planning | Average and/or individual targets (producers, injectors) |
| Surveillance | Selection/Types/Frequency |
| Studies | Selection/Types/Frequency |
| Recommendations | Financial, logistical, operational and technological |
For the newly explored field the FDP is based on 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 which are summarized in FDP subsurface discipline.
See also
Petroleum Industry / Upstream / Production