SPE/EAGE Reservoir Life Cycle Management Workshop: Innovation and Sustainability in Dynamic Oil Price Environment

Reservoir Life Cycle Management requires the right combination of reservoir characterisation, field development planning, project execution and continuous performance review of all key performance indicators, models and strategies. The main challenge here is the adaptation of people and organisations to both upstream technological advancements and subsurface data complexity to optimise field performance. With the current low and volatile oil price environment, the risks increases, however, this also creates new opportunities to further optimise the use of scare resources to improve reservoir understanding and asset performance.

​The objective of this workshop is to discuss the practices and experiences in defining field development strategies in the light of current price regimes prevalent in the oil industry, providing a clear path towards cost optimisation and maximising the effectiveness of reservoir management. Integrated field development best practices and other techniques for maximising the value of brown field assets will also be discussed.

An attempt will also be made not only to understand the numerous enablers of excellence in reservoir management, such as the right orchestration of data, people, processes, and organisational elements, but to highlight key industry techniques, technologies, process, and tools required.