Production Forecasting in Upstream E&P

Who is the target audience?

Managers

Reservoir Engineers

Production Engineers

Production Technologists

Business & Development Planners

Technical Authorities

Supervisory Staff

Economists

Duration
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2-3 days

Description

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

  • Forecasting Drivers

  • No Further Activity (NFA ) or No Further Investment (NFI) forecasts

  • New Development Activity (NDA) Forecast

  • Forecasting work flow

  • Gathering data

  • Making forecast

  • Forecast Building-blocks

  • Risk and uncertainty in Forecasts

  • Productions forecast discounts and management adjustments

  • Risking production forecast