Spiral Model of Asset Development on the Example of Green Field Idjosh, Pannonian Basin, Serbia
M. Pilipenko, E. Milei and M. Kuznetsov
Event name: ProGREss'19
Session: Best Practices in O&G Exploration / Лучшие практики в ГРР
Publication date: 05 August 2019
Info: Extended abstract, PDF ( 593.14Kb )
Price: € 20
Due to the long history of exploration and development of the Pannonian basin, the exploration area is reduced to small deposits and satellite fields. Initial geological uncertainties are high and entail financial risks. In this case, the traditionally applicable cascade model organization of the deposit studying process is ineffective. A spiral model of asset exploration and development has been applied to the new Serbian field, similar to the Barry Boehm model for creating software. A distinctive feature of this approach is special attention to the risks affecting decision making and the iterative process of project development. This methodology allowed us to solve the important problem - to put the field into operation simultaneously with its additional study, adequate understanding of risks and a plan to reduce them. The essence of the approach is that when obtaining actual data after drilling, geologists, petrophysicists and reservoir engineers work with the field in 4 main areas - identifying risks, modeling and assessing reserves, planning activities and implementing them. The structure of each subsequent phase, repeats the previous one, while taking into account the experience and developments of the previous stages, which allows us to develop the concept, modify the model and remove uncertainties.