ECONOMIC CASE FOR DEVELOPMENT PARAMETERS OF SEA OIL FIELD
The common practice of oilfield development testifies that field economics depends on production rates. The production rate (oil profile) can be defined by parameters of hydrocarbon extraction intensity: total well stock, drilling rate and flow rates from each of the wells. However, it is a very common opinion that on early stages of project definition development system should be considered only in the framework of petroleum engineering without considering the economic aspects. This often leads to a decrease in the effectiveness of the project due to inability to control project efficiency on later stages of project definition. The possible solution is the justification of technical solutions on feasibility study phase and its further refinement in subsequent project definition phases, taking into account not only the geological, hydrodynamic and technological parameters of the deposit, but also the economic results of oil field development project. This task is more significant for new and undeveloped oil production regions. Prospective resource volumes are located in remote areas: East Siberia, Yamal peninsula, offshore Arctic and subarctic, deepwater offshore. Such regions are characterized by harsh environment conditions, remoteness from existing infrastructure, and necessity of new technology development for oil field project realization. The combination of these factors attributes such oil fields to the group of high complexity projects. The error in technological solution for a well developed oil region (West Siberia) may be not very crucial. For new undeveloped oil production region the cost of error may exceed the economic benefit from project execution. This paper addresses issues on offshore oilfield development scheme economical optimization. The reference case is build for the Russian Arctic. Oil field is located in transit zone in Pechora sea. Net present value (NPV) is considered as an optimization criterion, total well stock and lateral length are used as optimization parameters.