Formalization and Standardization of the Smart Well Valuation Workflow

Case studies and related to approximately 30 oil and gas production fields containing smart wells were reviewed to consider the work process that was used to justify the incremental investment in hardware and installation cost. These fields are from two operating companies and are distributed across most major oil and gas productive regions worldwide. The paper outlines key findings from the review, recommends a project-stage-based modelling workflow and presents opportunities for improvements to support more rigorous and efficient design decisions.

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© Copyright 2011. Society of Petroleum Engineers
Presented at the SPE Annual Technical Conference & Exhibition, 30 October - 2 November, Denver, Colorado, USA

SPE Paper #: 
145961-MS
Year: 
2011
Software: 
Process: 
Conventional