Economic Evaluation of Smart Well Technology-A case Study

The demand of energy has been rising steadily in the past few years . As predictions for 2030 show: oil and gas demands will reach 100 MMSTB and 350 BCF respectively. Hydrocarbons are still abundant around the globe . Many of these resources are harder to produce than the reserves being produced currently . in this period new technologies play and important role for explioration and development of new reserves. intelligent well technology is one of the novel technologies in the field of reservoir management in this paper quick review of the applications of intelligent well technology such as stacked pay reservoir , auto -gaslift and its economic effects on field development wich comparison study of this technology and conventional completion are presented . moreover , detailed intelligent well economic analysis including workflow is elaborated. in the workflow , we present a probabilistic economic evaluation procedure to assess the bebfit of intelligent well systems based on net present value NPV. Reducing well count and eliminating or reducing interventions by using intelligent well systems has the potential to add many millions of dollars to well NPV since drilling rig and workover costs may be very expensive especially in offshore deepwater environments.

Keywords:

smart well , smart field , NPV , production optimization.