Aradel Holdings’ Wells, Reservoir, and Facility Management (WRFM) Journey to Maximizing Asset Value

Abstract The traditional approach to optimizing production and recovery in oil and gas asset management often relies on disciplines working in a relay-like approach, starting with petroleum engineering team focusing on the reservoir value optimization management, followed by well engineering rig or rig-less interventions, and finally production operations and process engineering looking for opportunities to enhance production via process optimization, facilities debottlenecking and other surface engineering activities. This approach has three major gaps, viz: lack of individual discipline integration from the reservoir to the sales point, lack of a joint key performance indicator for continuous improvement in the integrated production system optimization, and lack of ownership and accountability of the outcome from individual disciplines' inputs. Aradel embarked on a journey to close these gaps by institutionalizing Wells Reservoir and Facility Management (WRFM), which provides a structured and integrated approach that focused on maximizing the "4Rs": Rate, Recovery, Return on Investment (ROI), and Regulatory Compliance under the framework of a ring fenced integrated WRFM team. SHELL introduced the WRFM approach and it focuses on the LEAN process of continuous improvement called the WRFM continuous Value Loop, which acts like a production conveyor belt that involves the following activities: integrated understanding of the physical asset, data acquisition, data management, data interpretation, modelling, review meetings to generation, evaluation of options making decision, intervention planning/executions and after action review to optimize production and reserves. Aradel's WRFM institutionalization journey has five (5) stages: stage-1: training on WRFM processes and practices, stage 2: conducting health checks on the asset and people to identify gaps to WRFM minimum standards, stage 3: simultaneously closing the gaps to attain WRFM minimum standards (tier-3) and institutionalization of WRFM process and practice to optimize production and reserves, and stage-4:implementation of digital oilfield project (DOF) for real-time surveillance, analytics and production optimization.