Enhanced SIMOPS Expect Additional 3 Million Barrels of Oil Production and Increased Injection Rates

Abstract

Simultaneous Operation (SIMOPS) i.e. concurrent execution of two or more activities at the same time and place, which due to their interaction result in increased operational complexity and level of risk.While challenging existing practices, team has benchmarked Company practices with shareholders, other OPCOs and Service Providers. All the activities having major impact on Production/Injection shut down were captured. Industry standard risk management approach followed to assess all the risks associated with each individual activity. After reviewing all the hazards and safeguards in place, activities were declared as Permitted / Restricted /Not Permitted.In total 17 activities were reviewed, 11 activities assigned as ЉPermittedЉ, 4 activities as ЉRestrictedЉ and 2 activities remained ЉNot PermittedЉ under SIMOPS.By enhancing SIMOPS efficiency by 30%, expected 3 Million Barrels of additional Oil production per year and increased injection rates. Saving above 150 Million USD per year (using current oil price of 50$/bbl). Benefits will further magnify after full scale implementation of multiple SIMOPS per field and increased rig activities in future.Enhanced SIMOPS efficiency helped the Company to increase effective production capacity and achieve its sustained production assurance milestones without any compromise on safety and with no additional cost.