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The upstream petroleum industry is in the relatively early stages of applying advanced intelligent well (IW) system technology. For operators who have made use of these systems, the potential of enhanced reservoir characterization and real-time production management has been realized with: reduction of workover and intervention costs, elimination of deferred production, acceleration of cash flow and incremental recoverables from producing assets.
With more than 130 intelligent wells – and over 220 remote flow-control devices installed to date IW systems are proving they can deliver on their promises. Equipment is reliable and payback is significant. And – perhaps most telling in an emerging market where performance and value are key drivers – most end users have become repeat buyers. IWS technology is quickly progressing beyond questions of whether it works and whether it can add value, to whether end-users’ infrastructures are capable of optimal application of the technology.
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