Dynamic Facility Scheduling
In our experience, inclusion of subsurface uncertainty is standard in most project evaluations, but assessing uncertainties in facility and infrastructure investments is reduced to a few discrete cases at best. This often leads to an underestimation of risks associated with capital intensive projects.
To create a true stochastic project model, you must associate uncertainty with all aspects of the project and also set rules to manage the actions that should be taken based on the range of possible outcomes.
The PetroVR Solution
Dynamic Facility Scheduling – With PetroVR you can create dynamic rules for controlling when facilities and other infrastructure are built, expanded and abandoned. A number of basic rules are already built into the business logic and can be invoked by clicking a button. In addition, the Function Modeling Language (FML) is available for you to design rules tailored to your specific needs.
Example optional rules that controls facility scheduling
- Adding new facilities when they are needed during development: PetroVR includes a simple way to automatically develop a reservoir by cloning wells. When using that capability you can also automatically clone facilities associated with those wells. For example, if a well pad holds eight (8) wells, for every eight wells drilled, a new well pad will automatically be added. In addition, you can choose to have the software add a new facility if the facility capacity is reached.
- Expanding existing facilities when needed: You can set a rule to expand a facility once or multiple times based on some minimum ullage condition. For example, you can expand the capacity of a facility when there is 5 percent of gas ullage left.
- Clone a facility when needed: You can set a rule to clone (copy) a facility based on some minimum ullage condition. For example, you can clone the facility capacity when there is 10 percent of oil ullage left.
- Schedule construction for a facility when needed: You can set a condition to schedule a facility (or any other job in the schedule) based on a condition of your choice. A large number of variables are available for creating that condition. For example, a compressor can be built when the pressure in a gas reservoir falls below a certain threshold. Another example would be to convert from temporary to permanent facilities when you have drilled 10 wells.
- Abandon facilities when needed: The same flexibility as mentioned in Item 4 above exists for abandonment. You can abandon individual wells, facilities, pipelines, infrastructure or the entire project based on a threshold. For example, you can abandon the Platform on a reservoir when the production from that reservoir falls below 500 bopd.
With PetroVR capabilities for dynamic facility scheduling, you may correctly account for important value drivers such as drilling and other delays, reservoir and well reserve upside and downside in a full stochastic project model.Read More