Hello!
Welcome to this new entry of my blog:
“Petroleum Pulse: Insights, Trends, Case Studies and Technology for the Future of Energy.”
Take a moment to read and reflect, so sit back, grab a good cup of coffee (preferably Colombian) and let’s think together:
The Global Challenge of Mature Fields: The Current Oil Industry Dilemma
When we talk about mature fields, we immediately think of assets with operational life spans over 20 years, typical recovery factors of 30–35% for oil or 65–70% for gas, high percentages of shut-in or inactive wells, and a host of technical–economic challenges. Yet, these fields still account for approximately 70% of global crude supply according to the International Energy Agency (IEA) and the U.S. Energy Information Administration (EIA).
Moreover, these statistics show that there are over 850,000 inactive or shut-in wells, which represent around 30% of the world’s drilled well inventory, and an unproduced volume due to inactivity of about 1.5–2 million barrels per day (Mbpd).
Although the current focus for many companies is to “rejuvenate” fields by drilling new wells, we must not overlook the immense opportunity in reactivating existing ones, even when factors like high water production and disposal challenges, sand production in unconsolidated formations, inefficient secondary recovery mechanisms, and facilities in need of maintenance all translate into investments. But what if those investments are smaller than for new wells? And what if the volume from reactivations compensates for the expected production? Isn’t it our technical duty to accept the challenge?
The answer is yes: thanks to advances in technologies that guarantee incremental recoveries with lower investments and risks, companies increasingly strive to optimize their operations through multidisciplinary teams—bringing together geologists, reservoir engineers, production specialists, drilling, automation and environmental experts, all enhanced by decision matrices powered by applied AI, which enable optimal candidate selection based on residual production factors, ease of intervention, economic profile and mechanical, environmental risk.
Likewise, service companies in their research and development lines are advancing their technologies for water and sand control, whether with mechanical or chemical methods, solving many of the needs of today’s oil industry.
Mature fields are not the end of the road, but the start of a new era for engineering, sustainable management, long-term vision, strategic resilience and collaborative work will extend the useful life of these assets and help sustain energy security and global economic stability.
We are called to transform the ugly duckling into the swan it should be.
By your friend
Adriana Fonseca