Speaker: John Pringle, Masirah Oil
Topic: Marginal Fields - How to Maximize Profit and Minimize Risk
Date: Thursday, September 19th, 2019 at 11:30 AM
Location: Bob R. Simpson Building, 110 W 7th Street, Fort Worth, TX. You must enter through the doors on 7th Street. Click here for map
Cost: $30
- RSVP will be very helpful in expediting security process in building, but pre-registration is not required
Abstract
Many offshore oil fields have been drilled which were considered too small for further appraisal or development at the time of discovery. Today some of these discoveries offer great opportunities for fast track profitable developments. To be successful risks need to be mitigated. Often with marginal fields the data required to prepare Field Development Plans is incomplete, for example no production test data, no delineation wells, no fluid samples and no identification of fluid contacts. Compound this with lower in-place volumes than pre-drill prognosis makes further appraisal hard to justify. This presentation shows how risks can be mitigated by developing clusters of fields using standardized Offshore Mobile Production Units (MOPU) and Storage Tankers, reprocessing seismic data, drilling horizontal wells and applying artificial lift. It tells the story of how a $2.2 billion company was created in a relatively short time by developing fields discovered and relinquished by others.
Biography
John Pringle is a Petroleum Engineer with 30 years oil industry experience. He holds an MSc degree in Petroleum Engineering. He started his career with BP in the North Sea after which he moved to the Middle East where he worked on a number of production optimization and de-bottlenecking projects in Qatar, Abu Dhabi and Saudi Arabia. This was followed by a period in Libya as technical representative for Petro Canada. Following this John moved to Malaysia to work for Petronas after which he relocated to Thailand as the Petroleum Engineering Manager for Coastal Energy who were developing offshore marginal fields. John was then transferred to Malaysia to set the Coastal Energy business and implement the development of three offshore marginal fields. John is currently managing a Fast Track Marginal Field development project offshore Oman for Masirah Oil.