Reduction in Deepwater OPEX
Problem:
In deepwater, the costs of well construction and well intervention are extremely high. They are driven primarily by the cost of drilling rigs with the necessary capabilities (mainly mooring and riser handling); for example, a rig rate in the range of $150,000 - $400,000 per day makes a typical 20-day workover to recomplete a well an undertaking that could cost $8-$14 million.
In addition, because the number of rigs with the necessary capabilities is limited, even a scheduled workover may be delayed for many months, with the resulting loss of production revenue. A three-month delay in workover on a 15,000 bbl/day well equates to $27 million in deferred revenue (at $20 per bbl) -- or $34 million at $25 per bbl.
Operators must plan to configure a well for field life at the time of completion, because the economics of returning to the well to re-configure it to produce another reservoir are likely to be unjustifiable. This situation leads to sub-optimal developments.
SmartWell® Solution
SmartWell® technology offers an attractive alternative, allowing operators to reconfigure the well remotely and to optimize production continually.
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