Develop a digital system to prioritize reservoir development
To remain competitive in a volatile and uncertain business environment, Kuwait Oil Company recognized a need to prioritize its future development based on key economic indicators, while maintaining the long-term health of their reserves based on sound reservoir principles.
With some of KOC’s future production slated to come from undocumented unconventional and offshore reservoirs, and residual oil zones that are difficult to exploit with conventional technology, it was determined a full assessment and exploitation strategy would be needed across the company’s entire asset portfolio. To help achieve this goal, KOC selected Schlumberger to develop a reserves and production inventory management system to prioritize their development strategy.
The key objectives of the project were to
- meet KOC’s long-term requirement of increasing their reserves replacement ratio (RRR)
- develop options for increasing the total remaining reserves of KOC using different criteria
- link the company’s stage-gate cycle with approved reserves categorization system for reserves movement
- identify gaps in the company’s reserves horizon by creating detailed development plans
- develop a more structured, efficient methodology for reservoir analysis.
Integrate economic evaluation, reserve management, and portfolio analysis capabilities
Working closely with KOC, Schlumberger implemented an integrated reserves management, economic evaluation, and portfolio analysis methodology, using the Peep module in Merak software, Merak VOLTS, and Merak Capital Planning, as well as Tableau, which was used to enhance reporting and visual analytics. This integrated software solution automated certain processes for KOC— replacing the manual inefficiencies encountered by the KOC team with their previous method, which relied on users accessing multiple Excel spreadsheets from disparate sources. The result was a more structured, efficient process for reservoir analysis that enabled the KOC team to model complex scenarios and quickly evaluate a wide range of different development strategies.