The paper presents a methodology for optimising offshore hydrocarbon production developments, employing NPV/LCC as an economic selection criteria, including production revenue, throughout all project phases. Combining CAPEX, OPEX and Production Performance into Net Present Value (NPV) gives an opportunity to base decisions upon optimised economics over the field lifetime.
In the early phases of a field development, the methodology analyse all possible solutions systematically. The method analyses the major functions necessary for field production, selecting functional solutions with highest economical potential, and combining the functions into total field development solutions. The methodology utilises aggregated data for CAPEX and OPEX ( a top-down approach), and is often referred to as the ‘Screening Methodology’.