According to Oil & Gas UK, the Reserves Progression self-verification checklist is a tool created to assist companies in identifying and reviewing incremental resource potential from reservoir, wells and production system optimization opportunities inside Field Determination Areas.
This is done by using a systematic, cross-functional approach to demonstrate and improve the value of an opportunity, by focusing on describing the portfolio of opportunities in a systematic and consistent way, including timing, value, risks and uncertainties.
How does it work:
The checklist comes in the form of an Excel workbook and is accompanied by a Communications Pack which explains the context, definitions, references and includes instructions for use.
- Questions describe what “good looks like” in terms of leading actions for reserves progression
- Operators self-evaluate reserves progression practise
- Aggregated results
- Identify opportunities for sharing best practices
- Illustrate where common, high-value opportunities remain for the basin
- Self-Verification Scoring
- High (3) – in place & effective
- Medium (2) – room for improvement
- Low (1) – gap in our toolbox
Co-chair of the task group, Katy Heidenreich, said: “Current data shows there are over 2 Bboe in near-field opportunities that could potentially be unlocked through the promotion of good practice and innovation. Many of these opportunities may be marginal, technically difficult and geologically complex; this tool gives industry a consistent, integrated and systematic approach to progressing these resources and reserves. Improving our stewardship of these assets and collectively finding ways to increase the UKCS recovery factor from 43% means there’s an opportunity to add many millions of extra barrels of vital production using our existing infrastructure.”
The tool is aimed to promote good practice and information-sharing among the users.