Production Forecasting in Upstream E&P
Who is the target audience?
Business & Development Planners
The objective of the production forecasting process is to provide technically sound input and a robust and auditable basis for economic decisions throughout the EP life cycle from exploration to abandonment.
This course provides rules and workflows for the effective generation and management of gas and liquids production and injection forecasts. Production forecasts are a fundamental input to all EP business decisions ranging from strategic aspects of the annual business plan, to incremental activity planning at the Asset level for mature fields. Robust forecasts are key to achieving Operational Excellence. Some of the concepts introduced are:
Hydrocarbon maturation in E&P life cycle
Forecasting objectives in each phase of cycle
No Further Activity (NFA ) or No Further Investment (NFI) forecasts
New Development Activity (NDA) Forecast
Forecasting work flow
Risk and uncertainty in Forecasts
Productions forecast discounts and management adjustments
Risking production forecast