Optimum Offshore Gas Asset Development Planning with Simultaneous Subsurface and Surface Modeling and Simulation

We develop a case study planning process by using a strategy for balancing reservoir uncertainties (rock properties), optimum field development scenario (rate schedule and start time) and associated risks in the capital expenditures (price inflation and discount factor). The objective of this development is to recover dry gas reserves from five recently discovered fields in the most cost-efficient manner. The methodology has proven to optimize capital investment, by selecting an optimum scenario, namely one that best balances risk and uncertainty, and maximize asset profitability. Faster decision making process is enabled by a series of key digital oilfield components, such as an integrated framework for multi-disciplinary (geology, reservoir and production engineering) and multi-scenario modeling and optimization, and the potential for continuous real-time adaptation of the development plan to prevailing reservoir and market conditions.