Economic Report 2019

Along with the Asset Stewardship Task Force, OGUK is leading a number of cross-industry initiatives with the aim of driving increased recovery rates. These are aligned under the themes in the table below.

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Figure 20: OGUK Reserves Progression Work 33

Focus Area

Problem Statement

Progress

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OGUK has developed a self- evaluation tool to allow E&P

2.3 billion boe of contingent resource locked inside existing field determination areas. What can industry do to help unlock these volumes? Are all economic opportunities identified, and what is the optimum ranking/budgeting approach? Balancing value with complexity, what are the highest impact industry opportunities?

Reserves Progression

companies to identify gaps in their workflows that could help unlock additional volumes.

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Unlocking investment for barrel- adding activities guidance to be published in Q3 2019. Following a Well Optimisation workshop in Q1 2019, the group has identified maximising subsea well interventions, with a focus on cost reduction as an area of priority.

Identifying & Ranking Opportunities

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Data-driven Approach

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CASE STUDY

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Hunting International has partnered with Titan Oil Recovery Inc to market a new Organic Oil Recovery (ORR) technology which can help reduce, or even reverse, production decline from reservoirs and help restore shut- in wells. The technology has the potential to help increase overall recovery rates by manipulating, and treating, microbes which are found naturally in reservoirs. The technology can also reduce hydrogen sulphite levels by preferentially targeting certain species of microbial life. The approach has been tested in more than 300 wells on 48 commercial oil and gas fields around the world, resulting in a success rate of 94 per cent and an average increase in flow rates of 92 per cent, and will begin field trials on the UKCS later this year.

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33 For more information, download OGUK's Reserves Progression Self Verification Tool www.oilandgasuk.co.uk/product/reserves-progression-self-verification-tool-and-comms-pack/

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