Oilfield Equipment & Services Report 2013 - Clearwater Corporate ...

ReservoirsNowhere is technological change in the industry more important than in helping to clearly identify how much oil and gas can beextracted from specific reservoirs.Although the actual volume of oil and gas can be estimated from the volume of the reservoir itself, only a certain amount of thisvolume will ever be recovered (the recovery factor) depending on factors such as reservoir dimensions and pressure. The latter isparticularly important as reservoir drive is powered by the difference in pressures within the reservoir and the well.UK Oil and Gas, a trade body, say that if permeability is good and the reservoir fluids flow easily, then oil, gas and water will be drivenby natural depletion into the well and up to the surface. Thus the proportion of oil that can be recovered from a reservoir is dependenton the ease with which oil in the pore spaces can be replaced by other fluids like water or gas.It says the quoted recovery factor for most North Sea fields is about 35 per cent, but may be as low as 9 per cent where the oil is veryviscous, or perhaps as high as 70 per cent where reservoir properties are exceptionally good and the oil of low viscosity. The recoveryfactor in gasfields is much higher and can be more than 85 per cent.The science of analysing reservoirs is being strongly driven by the growth of complex mathematicals models and computer simulationswhich try to best predict what will actually happen during production and thereby help companies choose the most effective methodof discovery.Recent notable deals:In November 2012 Cameron and Schlumberger announced a JVOneSubsea to manufacture and develop products, systems andservices for the subsea oil and gas market. The companies saidOneSubsea would offer a "step-change" in reservoir recoveryfor the subsea oil and gas industry through integration andoptimisation of the entire production system over the life ofthe field. The companies said the deal would provide a powerfulalliance of oilfield services technology and subsea equipmentheritage.In January 2012 the Reservoir Group, a global market leaderin downhole tools, technologies and associated sub-surfaceservices, combined its three well intervention servicescompanies under one new brand, Wellvention. It added SaudibasedNordic Well Services to existing member companies,Wellbore Intervention (WBI), based in the UK, and Dutch-basedThe Tool Company (TTC). The Reservoir Group reported a 60per cent rise in revenues during 2011.Nowhere is technologicalchange in the industry moreimportant than in helping toclearly identify how much oiland gas can be extracted fromspecific reservoirs.Page 10