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During the exploration phase, operators start assessing the feasibility of developing a prospect into a commercial development. It is at this stage that EPCONSULT gets involved, to support the process with our expertise in Feasibility Studies and Field Development Planning.The key issue at this stage in the project is to determine whether the project will generate sufficient return on investment, and this is dependent on the technology applied, intelligent engineering, risks and economics.
EPCONSULT goes beyond the engineering, operational, risk and economics issues when conducting Feasibility Studies – we assess the prospect in a full Business Proposition Framework which also involves analyzing whether the project fits with the client's long-term/short-term business strategy, if it suits the political environment that the client wishes to operate in, whether the market condition of the project is in line with client's risk taking strategy, and whether the business proposition would be in line with shareholder expectations.
EPCONSULT conducts feasibility studies for new green field prospects as well as brown field development projects and the analysis of marginal field developments.
Making use of our Integrated Optimization Framework (IOF) we assist in optimizing and screening projects and making recommendations for conceptual engineering. Our IOF is also applied in assessing whether a marginal field can be turned around into a profitable commercial asset.
The benefits that EPCONSULT brings to feasibility studies are:
Field Development Planning
The process of field development planning commences at the stage of feasibility analysis and runs well into the conceptual engineering phase. It requires consideration of reservoir behavior, wells, well placement and phasing, production facilities and export systems. Typically the aim is to determine the field development concept that will provide the highest return on investment; this involves striking the best balance between ultimate recovery, production rate and cost. The exercise is made complex by the wide range of engineering disciplines involved in the process, the large numbers of options available and the abundance of highly uncertain influencing factors.
At EPCONSULT we aim to evolve and conceptualize options and alternatives from the early stage of feasibility – this ensures that a field development matrix of credible options is developed for analysis and screening – using our IOF or other client desired screening approach.
Why consider EPCONSULT as your partner in field development planning?
Please contact us for a discussion of how we may be able to help you with any aspect of your feasibility studies or field development planning.
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