TNK-BP To Invest Over $170 Million In Developing Brownfields Using “Smart Field” System By 2016

abarrelfullabarrelfull wrote on 26 Nov 2012 19:42
Tags: c-asia russia tnk-bp upstream

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TNK-BP announces that by 2016 it will invest over $170 million in an integrated program of automation and optimization of production at the Company’s mature fields.

The “smart field” program involves the deployment of high-tech automated well control systems at TNK-BP’s brownfields. International experience shows that in certain cases this can increase a field’s reserves by 1-2%, cut operating costs by 3-10% and boost production by 1-4%.

The effectiveness of automated well control has been confirmed by a pilot project, which the Company launched at the Samotlor field in 2010. This has enabled savings of around $15 million on well maintenance and significantly reduced the decline in flow rates.

“As part of its “Asset of the Future” concept TNK-BP is planning to systematically expand the list of “smart fields”. Deployment of the new process systems will result in a qualitative improvement in well control, minimizing environmental risks and enhancing development efficiency at the Company’s mature fields. The priority targets will be licence blocks at Samotlor, Orenburg and Nyagan. We will use the same integrated technological approach to plan new field developments right from outset”, said Mikhail Slobodin, TNK-BP Executive Vice President, Strategy and New Business Development.

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