General Mtg: Early Production Systems - When Do They Make Good Sense for Your Project?


This presentation will discuss the design aspects which drive value of an Early Production System (EPS) and introduces a stepwise approach for teams to follow to frame and evaluate dynamic tests and EPS design options using a generic deepwater case example. Alternatives ranging from a drill stem test (DST) to an EPS to a tie-back are compared and sensitized to understand under which conditions each option might be worthwhile, ultimately providing information for an informed decision.

Many teams believe an Early Production Systems (EPS) will be valuable for their offshore projects, but struggle when asked to make the business case for an EPS. Typically, if there is value in an EPS it is derived either from (1) early resource sales and/or (2) providing information on key dynamic uncertainties in order to decide whether and/or how to optimize development. The latter often is the driver of value.

As the industry moves to deeper and deeper waters, getting quality information on dynamic uncertainties gets more expensive and for some situations, becomes cost prohibitive. As a result, companies either need to be willing to sanction expensive developments with sizable risk (potentially bearing a higher risk tolerance) or find ways to make extended tests or EPS compelling financially, in addition to technically.

The key dynamic uncertainties teams often want to reduce before sanctioning development are (1) reservoir compartmentalization, (2) natural or enhanced drive mechanism and/or (3) initial production rate. Each is linked to different decisions which can be optimized if uncertainty in the situation is reduced. Compartmentalization directly affects the number of development wells, drive mechanism affects the need for injection, and associated well count and initial rate directly affect facility size.

Ultimately, the key to deriving value from an EPS resides in its design, which includes the type of EPS vessel, the associated fiscal terms and the quality of the information gathered from the early production system prior to finalizing development. This includes the tests and data to be collected, as well as the duration of the production period prior to making the important development decisions. 



Boston Bibb Salad
Yankee Pot Roast
Italian Creme Cake


If you have special dietary needs (allergies, religious, etc.), please include special meal requests in the "Comments" section during the registration process. 


Registration & Walk-ins 

All attendees are encouraged to register and pay online for this event.  This is a more efficient means of registering for the event and enables the registration process at the meeting to move much faster.  Walk-in space is available on a seat-limited basis at a fee $5 more than the on-line registration fee.


Parking for this event
The TOTAL Plaza building (1201 Louisiana Street across from the Houston Hyatt Regency Hotel) is connected to the downtown Houston tunnel system.  Using the tunnel system, those working downtown can walk to our meeting in air-conditioned comfort.
If you will drive to this meeting, the following summarizes available parking:
The image above shows how to access the valet parking area at the new location of the Petroleum Club. Enter from Milam Street and exit onto Louisiana Street.  Parking fee for this valet parking is $10.
Surface parking lots are available to the south of the TOTAL Plaza building (between this building and the former EXXON Building), including one surface lot adjacent to the TOTAL Plaza Building - pay at meter (cost ~ $9).  Other surface lots in the area cost $8 - $9 and they frequently are full by mid-morning.
Parking is also available in the Hyatt Regency Hotel parking garage across the street.  Prices vary depending on time in the garage.  Cost for 2 hous of parking is $9.  Parking is also available via valet at the Louisiana Street entrance of the hotel.  Cost is $10. 

Location: Petroleum Club, 35th Floor, Total Plaza
1201 Louisiana Street
Houston , Texas 77002

Date: Feb. 12, 2015, 11:30 a.m. - Feb. 12, 2015, 1 p.m.