Increasing work - over effeciency in the Asia Pacific

Maintaining and increasing production volumes from existing wells and facilities is a major priority for operators in the Asia Pacific. The region suffers from a 10% annual decline in recovery, 80% of the basin’s fields are operating in the brownfield phase and a huge volume of well stock (40%-50%) is currently shut in and not producing. Globally there has also been a 25% increase in the abandonment of existing wells (Almukhaitah et al, Fonoiki 2013) and a 65% decline in the oil price, resulting in a huge cut in CAPEX for new field development (U.S. Energy Information Administration EICA 2015).
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Additional Info

  • Region: Asia Pacific
  • Topic: Intervention
  • Month: February
  • Year: 2017
  • Content Type: Whitepaper
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