In-person @ the NPD: JIP proposal- Recovery Factor Benchmarking Phase 2
05/09/2023 FORCE is happy to present a new JIP proposal from OREC and Neptune: Recovery Factor Benchmarking Phase 2. Kelly Tyler and Chris Townsend will be presenting. Join us on September 25th.
During 2023, OREC RM developed a Recovery Factor Benchmarking tool together with Neptune Energy. This initial phase of the project (Phase 1) focused on building a well organised searchable spreadsheet based on NPD open data (Fact Pages) which aimed to help production and exploration engineers establish base line recovery factor estimates along with their corresponding ranges (uncertainty). The database will form essential quantitative input (and uncertainty) to prospect evaluation, economic robustness during field development, and assessing in-fill targets in mature fields.