Big data for advanced well engineering holds strong potential to optimize drilling costs

Big data for advanced well engineering holds strong potential to optimize drilling costs

Big data

Proven reserves

Offshore oil well production

Cost engineering

Offshore oil wells

The US Department of the Interior (DOI) has increased its estimate of undiscovered, technically recoverable resources in parts of Alaska's federal, state, and tribal lands and waters following recent, bigger-than-expected discoveries. The revisions include a large jump in estimated onshore oil resources. The assessment conducted by DOI agencies shows about 17.6 billion barrel of oil and 50 trillion cu ft of gas in the National Petroleum Reserve-Alaska, the Western Beaufort Sea, nearby state and native lands, and state waters. The US geological Survey estimates that onshore mean undiscovered, technically recoverable resources total 8.7 billion barrels of oil and 25 trillion cu ft of gas compared with the agency's 2010 resource assessment of just 1.5 billion barrel of oil. The Bureau of Ocean Energy Management estimates that offshore mean undiscovered, technically recoverable resources on the Beaufort Sea Outer Continental Shelf planning area total 8.9 billion barrel of oil and 27.7 trillion cu ft of gas, a net increase of 700 million barrel of equivalent over the agency's 2016 Beaufort Sea planning area assessment. 2018 Society of Petroleum Engineers. All rights reserved.

18-21

2

70

Rossi, Nicola

Michelez, Jean

Concina, Fabio

JPT, Journal of Petroleum Technology

2018

journalArticle

1492136