ABSTRACT:

Smart well technology aims at increasing the value of an asset. Some common value drivers are increased ultimate recovery, accelerated production, reduced well count and well intervention and surface facilities costs. Optimising the value of an asset is best achieved when consideration is given to "smartness" at an early stage in the project cycle, i.e. at concept selection and definition or even earlier, during the identification phase, in order not to miss business opportunities. As input to the concept selection and definition of the second phase development of the Rosetta Field, an evaluation was made of the benefits and risks of smart wells to develop the multiple sandstone reservoirs. Phase II includes infill drilling from the existing Rashid-1 platform and the development of the Rashid-2 and Rashid-3 accumulations. Through reservoir and well performance simulations the expected production profiles and recoveries from conventional wells were compared with smart wells, which are equipped with remotely operated flow control valves. A systematic, full life cycle reliability and risk analysis was carried out for conventional and smart platform and subsea wells, which allows a comparison of the risked costs between the various well options. In combination with the reservoir simulation results and the perceived subsurface uncertainties, these risked well costs enable the selection of the highest value option.

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