Old oil fields with a many years of productions and large mostly low productive well-stock present a new owner/operator with an interesting challenge in defining the its strategy. The low risk approach is an extensive work over recompletion program to bring back shut-in production and reduce water-cut. However in some cases this can be considered throwing good money after bad with insignificant incremental increase in production. The second approach is extensive infill and possibly exploration drilling to open new zones in the deeper part of the structure or adjacent structure. This is considered the higher risk strategy but the rewards in incremental increase in production can be great, as this could be many time larger that current production of the field.

This paper supports a two pronged strategy from both end of the spectrum namely geology and production engineering for optimium short and long term benefits and NPV supported by the following maxims

  • Know what you do not know about the geology and dynamics of the field

  • Get the data that you need, eg invest in 3D seismic, run PLT's

  • Take an integrated geoscience/engineering approach

  • Use your gained knowledge to understand risk and options, vanilla solutions do not always present the best ROI

This paper demonstrate how this two pronged strategy was applied to the Kurovdag field in Azerbaijan and how a rejuvenation and re-development plan for the field was developed in conjunction with the operator of the field.

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