The Asset Performance Review® report provides a speedy and comprehensible visualisation of the field(s) and caters for a deep technical asset insight allowing to identify challenging areas and opportunities, including an extrapolation into future production. It offers a scalable solution to improve asset understanding and oversight where timely delivery is critical.

Application Areas

The Asset Performance Review® supports subsurface teams in their reservoir studies as well as commercial teams involved in asset planning, portfolio performance benchmarking and M&A activities, e.g., in facilitating:

  • Due diligence, quality assurance and peer reviews activities on reservoir characterisation and dynamic modelling studies,
  • Parametrisation and peer reviews for concept screening, concept selection and field development activities or decision and risk analysis,
  • Production enhancement, candidate selection and reservoir management oversight,
  • Data room evaluation or other M&A activities where fast track asset screening is required,
  • Ranking and benchmarking of multiple fields based on technical KPIs,
  • Annual or periodic update of the review for operated/non-operated ventures or host authorities.

Content and Deliverables

The Asset Performance Review® comprises an extensive documentation with the key facts regarding the field’s production performance. The report contains information on two levels: (i) a set of relevant diagnostic plots, maps and summary tables offer a speedy and comprehensible visualisation of the field; (ii) the accompanying engineering interpretation provides a deep insight allowing to identify problem areas and opportunities, including an extrapolation into future production. Currently, there are more than 80diagnostic plots in a library which is constantly expanded. This library can be customised according to the individual client or reservoir requirements and covers, depending on the reservoir type and data availability, the following areas:

  • Reservoir Introduction: summarises the production history (Figure~A), the well count over time, the specific completion performance, the production uptime statistics and particularities of wells still flowing at the end of the production history. If present, the gas and water injection history of the field is discussed including key performance indicators (KPIs), such as voidage replacement ratio or gas re-injection balance over time.
  • Reservoir Energy: section identifies critical aspects related to the potential future reservoir performance. It includes single-tank material balance assessment with identification of the reservoir drive mechanism (Figure~B) and various diagnostic plots, an assessment of the gas-oil ratio performance on reservoir completion level over time and the voidage production balance on reservoir level over time.
  • Reservoir Development: analyses past development activities, including the spatial distribution of drainage points by completion type and vintage, maps capturing the well spacing and density (Figure~C), as well as past drilling and re-completion activities. Well offtake rates are tracked over time and as function of well spacing. Reservoir creaming curves describe the success rate of past development drilling in terms of oil and gas recovery. Further statistical analysis includes the completion production and shut-in times. The production vintage plots (Figure~D) allow to track the contribution to reservoir production of different batches of wells over time.
  • Reservoir Production Maps: visualise a wide range of oil, gas, water and voidage related production KPIs. Examples include cumulative production (Figure~E) and injection, initial offtake rates, drainage area, producing and shut-in durations as well as key reservoir management related indicators, such as watercut and gas-oil ratios. The two dimensional krigged maps can include additional reservoir data like faults or contour lines as per requirement.
  • Reservoir Pressure: section summarises the pressure analysis based on all measurements available in the production database. That includes reservoir pressure and depletion maps over time, the reservoir pressure development as function of oil and voidage production as well as time based on high-level material balance assessment, and the resulting yearly depletion rates.
  • Well Production: section captures the oil, gas and water production characteristics for the individual completions. It comprises a statistical analysis of ultimate recovery and initial rate distribution (Figure~F) as well as the average production behaviour and how it changes over time. It analyses how new completions in the reservoir performed historically compared to their peers and ranks all completions with respect to various KPIs. Reservoir areas with particularly favourable production are identified based on a total well performance KPI.
  • Reservoir Decline: comprises an analysis of past and expected future decline behaviour. It correlates the past performance of the reservoir with drilling and re-completion activities (Figure~G), establishes depletion rates and benchmarks the year-on-year production change. Decline trends are identified through several decline models using sophisticated algorithms to establish short-term and long-term trends, including segmentation of the past production into separate decline phases. The decline analysis is conducted both on completion and reservoir level.
  • Remaining Production: presents the forecasts in terms of expected ultimate recovery and remaining oil production (technical reserves). The extrapolation of future production incorporates characteristic plots (Figure~H) and uses various alternative decline models to ensure a robust forecast with a range of outcomes and an independent validation of results. Technical reserves from reservoir decline and completion decline are benchmarked and analysed in terms of risk factors for future production. It also includes a map of remaining production (Figure~I).