We have been thinking of the future of digitization and how this will impact the oil and gas industry. With more than 70% of all oil coming from conventional fields, how can digitization projects – currently underway in almost all oil and gas companies really benefit operations?
Here is a map showing conventional fields –
Figure 1 : Global conventional oil fields operating from (1812-2016) from WoodMac
While its easy to dismiss all of these projects as just hype, what if this were a turning point to increase adoption of new tools in our industry?
At ReserMine, we focus on what to do with the data being generated through these projects. Can new workflows emanate from all this data to understand our reservoirs better? Can we automate our existing workflows to avoid interacting with multiple software running on multiple systems (I know this is the collective wish of almost every reservoir engineer I have spoken with)? We have an ambitious goal to dramatically reduce decision making times in reservoir management. And our products – HawkEye and WISE were designed with this goal.
Trinidad and Tobago, country in the Carribean islands, first started producing hydrocarbons in 1954 (it was 1908 in USA). Their current production is 57.79 kboe/d. Impressive production for an island country as compared to the United States’ 174.91 kboe/d. And they have been always ambitious in their goals to increase recovery.
Figure 2: Map showing producing assets in Trinidad and Tobago (source Woodmac – 1812-2016)
I look forward to sharing our recent stories from using our platform in Germany, Egypt and Mexico and starting a dialogue around how they can be translated applicable to reservoirs in Trinidad and Tobago. We thank Trinidad and Tobago’s SPE chapter for this invitation and look forward to meeting them !