Offshore staff
KUALA LUMPUR, Malaysia -- The oil and gas industry is more strapped for personnel than ever before, and that limitation impacts project execution. Chen Kah Seong, senior manager of field development for Petronas, told participants at the Offshore Asia Conference and Exhibition, "Resources are very scarce."
Resources, Chen said, are one of the many critical concerns for project execution. Other concerns include accurately evaluating the viability of a project and creating a project structure, integrating subsurface data and constructing static models, analyzing dynamic model and reserves in place, and selecting optimal surface facilities.
When determining project viability, Seong said, it is important to think about the big picture and to be sure costs are in line. "Run the numbers, and run them again, and again, and again," he said.
Seong pointed out some pitfalls that often occur in the early stages of a project. When it comes to evaluating subsea data, Seong said, project planners must keep in mind that it is always possible to gather more data, but it is not always desirable. "it is not about quantity; it's about quality," he said. "We have to differentiate between what we would like to have and what we must have."
In terms of producing the field, Seong said, well planning is very important. "Save up for a rainy day," Seong said, explaining his views on reservoir management. "Remember when planning wells that the low-cost option may not optimize long-term value"
When it comes to recover, Seong said, "you should manage toward the long term even if it costs."
Finally, Seong encouraged project planners to question decisions along the way. "Challenge, challenge, challenge!" he said.
1/17/2007
