Specific Production Strategy which Petroleum Asset Team is following including annual schedule, budget allocation and recommendations on:
Economics | NPV and Annual P & L schedule |
---|---|
Production targets | Gross Field and/or individual flowrate targets (producers and injectors) |
HSE | Specific set of safety instructions towards a particular FDP |
Recovery Methods | Selecting the recovery strategy |
Subsurface facilities | Quantity/Types (producers, injectors, observers) and completion strategy |
Surface facilities | Capacity and tech spec of metering, production gathering, injection, water supply, on-site fluid processing, pipelines and utilisation |
Data Acquisition | Selection/Types/Frequency |
Field Studies | Selection/Types/Frequency |
Well & Reservoir Management | Financial, logistical, operational and technological activities towards executing Production targets and HSE |
For the newly explored field the FDP is based on primary exploration data package and booked reserves and called Master Development Plan (MDP).
- 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
thus leading to the new FDP called Redevelopment Plan (RDP).
There are basic regulations and guidelines on building MDP and building RDP which are summarized in Field Development Planning Discipline.
See also
Petroleum Industry / Upstream / Production
Subsurface E&P Disciplines / Field Development Planning