THE IMPACT OF INTEGRATED RESERVOIR CHARACTERISATION ON THE BUSINESS PERFORMANCE OF THE MODERN PETROLEUM COMPANY

Abstract

One emerging technology that has the capacity to significantly improve the way the petroleum industry undertakes its business is reservoir characterisation. Compelling business drivers for the adoption of reservoir characterisation by petroleum companies exist, including the reduction of project risk, the optimisation of reservoir performance, and the improvement of work practices, all of which can lead to far shorter project cycle times and better financial performance. Integrated Reservoir Characterisation has been successfully applied by one petroleum company following the implementation of a project designed to promote its adoption. A process description of Integrated Reservoir Characterisation applicable to the company was developed and this was used in the evaluation of computer applications to implement the concepts. The implications for both reservoir technology development and for training are considerable, with the latter being addressed by the use of case studies. The impact that Integrated Reservoir Characterisation is having, and is likely to have, on the business in terms of work practices, the treatment of uncertainty, and on real time well operations is such that it will feature far more prominently in everyday data management and analysis, interpretation and decision making. Integrated Reservoir Characterisation is a 'core-of-the-business' technology that has the potential to yield substantial bottom-line benefits if it is successfully advanced within the modern petroleum company.