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Near Field Exploration - from Failure to Success
During the late 1980’s and early-mid 1990’s both BP and Amoco invested large sums of money exploring close to their core producing fields in traditional ‘heartlands’ such as the North Sea, Alaska and L48. These investments were largely unsuccessful. Amoco coined the term ‘stealth exploration’ to describe the activity carried out by individual assets whose failure costs only later appeared on the corporate balance sheet as exploration write-off.
This paper was written by Tim Marchant (BP), Hamish Wilson (Paras) and David Bamford (BP) and published by SPE in 2001
Data Management - An approach for Subsurface Managers that works
Data Management has become one of the most important tasks facing subsurface teams. As more and more data is acquired it becomes more important to manage that data in order to avoid the cost and time issues associated with management of data. Subsurface Managers have a responsibility to the company that they work for and the staff that work for them to provide quality data in a time effective manner.
This paper was written by Lee Hatfield in 2007
Managing Exploration Performance
This paper describes how BP designed and set up a web-based system to manage the performance of their Near Field Exploration programme. The programme is characterised by a dynamic high volume of activity, as compared with more traditional exploration. Therefore capital must be managed and moved between business units throughout the year to continuously maximise production delivery for a given level of exploration spend.
This paper was written by Bill Hewitt (BP), Hamish Wilson and Spencer Roberts (Paras) and Daryl Fullerton (Biznet) and published by SPE in 2002
Real Time Portfolio Management
How often should a company review its portfolio of investment opportunities? Historically most companies have examined their options on an annual or quarterly basis due to limitations in data and tools. Today, with improved processes, applications and computing power more companies are moving towards dynamic real-time analysis of their portfolio. This enables them to allocate resources (both capital and people) across the portfolio to leverage benefits and maximise value.
This paper was written by Mike Larsen and Spencer Roberts, and presented at PETEX in 2002
The Economic Advantages of Managing Data, ONCE!
The estimated savings available in the UKCS from managing data ONCE! are of the order of £1.5 billion per annum, or about US$1 per barrel. Realizing these savings would enable vital increased recovery in the North Sea, and beyond.
This article was written by Dr Alan Smith, and published by SPE in 2002