Short-term (usually 5 years) high-level Field Development Plan
The first MDP is generated based on the exploration data when the reserves were booked for the first time.
The following period of production may reveal the need to revise the development strategy 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