SPE Asia Pacific Webcast Series on Integrated Asset Development & Management (IADM)

This webcast is setting the scene for a series of talks and will touch upon some standards and process improvement at the industry level (with showcases from Malaysia) and its key principles and value impacts, focusing mainly on Integrated Asset Development & Management (IADM) throughout field/asset lifecycle from exploration stage down to decommissioning and abandonment stage with a focus on Field Development Projects.

This webinar will focus on pragmatic and innovative, yet simple tactics, to unhide low-risk high-value opportunities in the assets through Integrated Production System & Data Analysis (IPSDA). The overall objective of this session is to generate value efficiently, through improved reservoir and surveillance management, understanding of potential and opportunities, and operating reservoir and production/facility system efficiently. Participants will gain knowledge of risks and uncertainties at the earlier stage while looking at the potentials of any field development, to help facilitate mid-long term decision making in creating value throughout the field life.

Among the key aspects and strategies of Integrated Asset Development & Management (IADM) on enhancing values in hydrocarbon assets are embracing innovative and out-of-box technical and commercial solutions to monetize economically challenging remaining barrels from the producing and mature oil fields. Significant remaining recoverable oil volumes are found in producing and brownfields, especially offshore Malaysia. Historically, mature field infill redevelopment campaigns have been considered as piecemeals, focusing on bigger targets, with multiple revisits stretching over many years.

Among the key aspects and strategies of Integrated Asset Development & Management (IADM) on enhancing the values in hydrocarbon assets throughout the field life, is to thoroughly understand the field’s potentials with the right benchmarks and exampled analogues. Part 4 of this series will elaborate on the application of data analytics and associated solutions, with a focus on data-driven reservoir performance benchmarking on identifying areas of reservoir performance gaps, and formulation of Recovery Factor (RF) improvement plans through effective yet simple to use methodologies and Field Development Plans (FDP) analogues.