2015ARKH-P5-Field Development Evaluation(80s)
.pdfPROJECT SANCTION :
KEY CHALLENGES
Geosciences aspects: Reservoir development plan, development phasing, possible upsides, reserves booking, reserves certification,
Technical: Production facilities selection, expected plant performances, site study, access to site, logistics, project schedule, innovations, use of associated gas…
Environmental: Environmental Baseline Study (EBS) & Environmental Impact Assessment (EIA), access to site, existing facilities or fabrication yards in the area,
Economics: cost estimate, OPEX, CAPEX, cost reduction analysis, market conditions, NPV (Net Present value), IRR (Internal Rate of
Return)…
Financing scheme: Project financing, banks loans, Partners financing, Credit Export Agencies loans..;
PROJECT SANCTION :
KEY CHALLENGES
Contractual: Contractual strategy selection, Local content, insurance scheme, constrained timing,
Legal: Taxation scheme, applicable laws and regulations, land acquisition or lease…
Social: Economical & social impact study, Local manpower availability, training programs,
Risk management: Risks analysis, market evolution, currency fluctuation, suppliers and contractor track records, security aspects…
PROJECT SANCTION :
KEY CHALLENGES
Host Government contract requirements
Fiscal terms
Associate gas requirements/flaring
Local content requirements Local market and skills
Training requirements:
Host country potential challenges
Local currency fluctuation
Local PIB growth
Security aspects
PROJECT SANCTION CHALLENGES:
KEY CRITERIA: PROJECT ECONOMICS EVALUATION
SANCTION PACKAGE is FORMALISED:
To have the monetary value of a project & to analyse the project value drivers (partners may have different target for Project IRR)
To compare technical alternatives
To forecast cashflows and to prepare budgets
To track on going project performances versus budget and forecast
To evaluate tenders and to prepare negotiation positions
Risks & sensitivities analysis
Risk analysis is performed to assess the impact of:
|
Reservoir uncertainties Reserves ? |
||
|
Tight market |
Costs ? Added value ? |
|
|
New technology |
Costs ? Added value ? |
|
|
‘’ |
‘’ |
Schedule? Production delay ? |
|
Lower oil/gas prices |
Project revenue |
64
FIELD EVALUATION PROCESS – EXAMPLE
SOUTH PARS 2 & 3 DEVELOPMENT
CONCEPTUAL STUDIES: SOUTH PARS 2&3 PROJECT (1)
66
CONCEPTUAL STUDIES: SOUTH PARS 2&3 PROJECT (2)
SOUTH PARS (Iran) and NORTH FIELD (Qatar) are the largest nonassociated gas field in the world
• SOUTH PARS characteristics |
|
|
- Area |
3,700 SQ KM |
|
- |
Gas in place |
460 TCF |
- |
Condensate in place |
17,100 MMBbl |
• Phases 2 & 3 characteristics |
|
|
- |
Gas Production |
2,000 MMSCFD |
- |
Condensate Production |
77,000 Bbl/d |
- |
Sulphur Production |
500 t/d |
67
CONCEPTUAL STUDIES: SOUTH PARS 2&3 PROJECT (3)
North Field general map |
South Pars 2&3 wet scheme |
|
RAS LAFFAN
1 BScfd |
1 BScfd |
|
0.9 BScfd
Qatargas I « dry scheme »
CONCEPTUAL STUDIES: SOUTH PARS 2&3 PROJECT (4)
General Principle
All possible technical solutions are envisaged
Best development scheme is selected
South Pars
Fluid transfer system from offshore: Mono phase or multiphase flow ?
Wet or Dry?
Constraints:
Viscosity
Pipe Corrosion due to the water Pipe length: 105 km
Studies result:
The multiphase WET scheme cost is lower (30% of Surface Facilities costs savings)
CONCEPTUAL STUDIES: SOUTH PARS 2&3 PROJECT (5)
COMMON FACILITIES: (DEVELOPED BY NIOC)
56” EXPORT LINE
SULPHUR HARBOUR CONDENSATE EXPORT SYSTEM
|
|
ONSHORE GAS TREATMENT PLANT |
|
|
|
|
||
|
|
GAS LIQUID SEPARATION |
|
|
|
|
||
|
|
4 PROCESS TRAIN |
|
|
|
2 SUB SEA PIPELINES |
||
|
|
2 BSCFD PROCESSING CAPACITY |
|
|
|
|||
|
|
|
|
|
32” AND 104 KM LONG |
|||
|
|
77,000 b/d CONDENSATE |
|
|
|
|||
|
|
|
|
|
WET SCHEME FOR RAW GAS |
|||
|
|
500 t/d SULPHUR |
|
|
|
|||
2 OFFSHORE PLATFORMS : |
|
|
|
|
TRANSPORTATION |
|||
|
|
|
|
|
|
|
||
70 M. WATER DEPTH |
|
|
|
|
|
|
|
41/2” PIGGY BACK LINE FOR MEG |
NOT NORMALLY MANNED |
|
|
|
|
|
|
|
TRANSPORTATION |
|
|
|
|
|
|
|
MEG INJECTION OFFSHORE FOR |
|
REMOTE FLARES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CORROSION CONTROL |
|
10 DEVELOPMENT WELLS EACH |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SPD3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SPD4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
|
|
|