Production and reserves strategies at Maraven during the past five years were aimed towards achieving a steady and sustained growth through technology by the application of METHP (Motivated, Experienced, Talented Human Power). These strategies are based on an aggressive data acquisition policy, such as 3-D seismic, cores, special logs, achieving an improved success rate in drilling new wells, increasing new reserves and setting forth a transformation platform for doubling production during the next ten years from the existing production rate of 900 MSTB/D. The data acquisition policy has allowed Maraven to optimize exploitation schemes of many matured reservoirs leading to production successes and adding reserves.
This strategic vision is supported by the effective implementation of new technologies which will make Maraven more competitive in the industry in terms of higher productivity in mature and marginal fields, in extending the field lives of the existing reservoirs and adding new reserves from the satellite reservoirs through novel exploitation schemes which are otherwise not commercial by conventional techniques.
The integration of different disciplines of geoscientists and engineers in various work teams and intensive training of the technical personnel has made it possible to dedicate more effort toward the priority areas where better scopes and opportunities are seen for economically increasing reserves and production.
Still many more challenges remain for optimizing the exploitation of many other reservoirs by applying the right technology that would produce the best economic results. Other challenges are to increase the ultimate recovery of these reservoirs by implementing new recovery processes, to improve the existing ones and develop those which are more complex and difficult to exploit.
The future strategies are focused on intensifying the strength of the reservoir studies and proper monitoring of the reservoirs by increasing the level of METHP, promoting strategic alliances with outside companies for exploring and developing the areas of higher risk and in empowering technology as an element of transformation.
The global economic competitiveness, especially in the petroleum industry, has made the corporations increasingly vulnerable to market forces whereby the application of technology and management skills become essential for the success and the survival of the corporations in such an environment.
The implementation of technologies improve the competitiveness in two distinctive ways:
gain market advantages by value creation
strengthen cost advantages by better production and organization processes
One of the relevant aspects of incorporating technology in production processes of any corporation is to understand technology application as such and not just the fact of scientific and engineering principles to achieve practical results.
Along these ideas, Maraven has developed strategies in terms of production potential and reserves increase to obtain a sustained growth by better knowledge of each reservoir that conforms to the resource base of the corporation through technology application and a robust METHP.
These strategies are based on incorporation of right technologies, aggressive data acquisition policy such as 3-D seismic, cores and special logs, better selection of drilling candidates, development of new areas and most of all to delineate and deploy transformation plans to increase the production potential within the next five years.