JIP seeks to identify value of intelligent well systems ///
The upstream oil and gas industry is being called upon to increase hydrocarbon supply, while, at the same time, raising the level of ultimate recovery. In addition to increasing activity levels, there is a continuing drive to reduce costs while efficiently using scarce (manpower and capital) resources.
Many, separate technical initiatives have taken place over the last few years that have supplied the separate parts of the jigsaw that is being assembled to meet the above objective. A new generation of measurements, technologies, processes and workflows is being developed to provide the necessary hardware, communication and software tools to provide information and analysis for timely, informed, decision-making.
The immediacy of such decision-making has been captured in widespread use of the terms “real-time”, “(just) in-time”, “relevant-time,” etc. These all hint that decisions are made at a series of times that are appropriate to the particular process cycle being considered.
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