With many North Sea oil fields now well into the decline phase of their production profiles, interest is now being shown in the management of a field in its latter years of production. The realisation that reservoirs have a finite limit and that this limit is approaching prompts two questions:

What determines how much of the remaining oil reserves can be produced and how can this be maximised while retaining economic efficiency?

What determines when a field should be abandoned and what constraints are there on the decision to abandon?

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