GLOSSARY

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Specific production strategy which Petroleum Asset Team is following including annual schedule and budget allocation on:

Investment targetsAnnual P&L schedule
Surface facilities

Capacity and tech spec of metering, production gathering, injection, water supply, on-site fluid processing, pipelines and utilisation utilization

Well drillingQuantity/Types (producers, injectors, observers) and completion strategy
Workovers Selection/Types/Frequency
Production planningAverage and/or individual targets (producers, injectors)
SurveillanceSelection/Types/Frequency
StudiesSelection/Types/Frequency
RecommendationsFinancial, logistical, operational and technological


The For the newly explored field field the FDP is based on the primary exploration data package and booked reserves and called Master Development Plan (MDP)

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  • 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



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