Abstract: 

Many offshore oil fields have been discovered which at the time of discovery were considered too small for further appraisal or development and were relinquished. Today some of these discoveries offer great opportunities for fast track and highly profitable developments. To be successful however, risks need to be mitigated. Often with marginal fields the data required to prepare Field Development Plans is incomplete, for example, lack of production testing, delineation wells and 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 Mobile Production Units 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 PetroCanada.  Following this John moved to Thailand as the petroleum engineering manager for an Independent Operator who were developing offshore marginal fields. John was then transferred to Malaysia as Country Manager to set up the business and implement the development of three marginal fields under a Risk Service Contract.