ENERGY QUEST SDN BHD : News
Orogenic featured in Special Focus [16-01-2008]
The services of geosolutions specialists like the Orogenic Group are increasingly in demand as the race for small field developments heats up
It’s an exciting time for not only the oil and gas exploration and production (E&P) players, but also their service providers. The excitement – and challenge – is taken up a notch when marginal fields come into the picture and as more E&P players train their sights on these resources thanks to the current high oil price environment. While buoyant prices are paving the way for the development of marginal fields, the key determinant is still the economics of the field.
This is where players like Energy Quest Sdn Bhd come in. An oil and gas E&P consultant, Energy Quest is involved in all the phases of the E&P lifecycle, from data review and asset acquisition to exploration, prospect evaluation, resource assessment, field development plans formulation and implementation. A member of the integrated E&P geosolutions specialist Orogenic Group, Energy Quest’s clients include major oil companies and service providers while conducting studies in Malaysia and the Southeast Asian region as well as delineating international basins in Yemen, India, Bangladesh and Niger.
Elaborating on its approach to assessing the economic viability of an asset (field, prospect or block), Energy Quest Head of Engineering Allida Muhammad Said stresses that work processes are similar regardless of the asset size. “The exercise is kick-started with geoscience evaluation using local and regional data in locating hydrocarbon cumulation and assessing its volumes,” she says. Integrating the interpretation with petrophysical evaluation and engineering assessment, the team then utilises fit-for-purpose technology and techniques to enhance the asset definition and to optimise its development plan. “The bottom line of these studies is maximum profit to the asset owner, where reserves are maximised and production optimised,” she adds.
Although similar work flows exist, in small field evaluations every single step in technical and commercial assessment has to be conducted in a rigorous manner with incremental economics. In this instance, the team at Energy Quest conducts risk analysis, taking into account geological, reservoir and drilling factors. Application of the right technology and adopting an integrated team approach guided by proven work processes are essential in marginal field development, she emphasises.
“The current high crude price environment means that it’s definitely an exciting time for marginal field development given the many challenges where we have to consider geopolitical, commercial and technical aspects against rig availability when proposing economically viable plans for our clients,” Allida concludes.
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- [16-01-2008] - Orogenic featured in Special Focus
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