Home ShipmanagementClassification Societies OPTION attracts new partner for improved decision-making in oil recovery

OPTION attracts new partner for improved decision-making in oil recovery

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LRE LR energy logo 26102015Joint industry project OPTION is a step closer to tackling the challenges of oil recovery from reservoirs as DONG Energy delivers data and technical support to strengthen the project scope.

OPTION (Optimizing Oil Production by Novel Technology Integration) aims to significantly improve simulation tools for the prediction and control of the flow between the horizontal wells and the reservoir – with a focus on enhancing oil recovery.

As part of their investment in the project, DONG Energy will contribute with the complete subsurface dataset from the Siri and Stine fields, located in the Danish sector of the North Sea.

Dr Michael Kragh Engkilde, Subsurface Manager of Siri Asset at DONG Energy says: “With our ambition to extend the life of the Siri Area, we are continually investigating opportunities for enhancing production. The knowledge exchange with the other industry partners and academia in OPTION could be central to our further development work to improve recovery performance.”

The joint industry project breeds a close link between industry and academia and as such helps to progress research exploitation and knowledge transfer.

This €3.9 million project is a collaboration between industry partners Lloyd’s Register Energy, and its consulting business – Lloyd’s Register Consulting; LR Senergy; Welltec; DONG Energy; the Technical University of Denmark (DTU); and the University of Copenhagen. It is supported by a €2 million grant from the Innovation Fund Denmark.

Dr Kenny Krogh Nielsen, Chairman of the OPTION Steering Committee and Team Leader at Lloyd’s Register Consulting states: “DONG Energy’s participation marks a decisive step for OPTION. By applying real reservoir data, DONG Energy’s contribution is reinforcing the expected benefits and value of OPTION, and will help bridge the gap between theory and practice.”

DONG Energy will be contributing with data and advisory support to ensure proficient analysis and integration of the dataset. Dr Krogh Nielsen says: “Collectively, we are committing expertise to analyse and refine this data, which will help optimise the future development of the Siri Area.”

Christian Krüger, VP of Intervention Solutions at Welltec A/S says: “With still fewer field discoveries and a growing energy demand, there is an industry imperative to develop innovative methods for improving recovery from existing reservoirs. OPTION could help to enhance and extend production from existing fields, which would benefit the oil and gas industry’s supply chain and contribute to renewed employment and economic prospects in Denmark.”

By providing more accurate results, OPTION strives to advance decision-making and well designs with a focus on enhancing oil recovery. A one percentage point increase in the oil recovery factor for the Danish fields would represent an estimated value of DKK 40 billion to the Danish economy with today’s oil price.

More information on OPTION is available at http://www.lr.org/option/

About Lloyd’s Register Energy
Lloyd’s Register Energy applies its expert knowledge and independence to help clients and regulators design, construct and operate their capital intensive assets and businesses to their highest levels of safety and performance. Its world class expertise allows it to resolve and share solutions to the most complex situations, providing the confidence demanded by engineering principles, government regulations and industry codes and standards. And, as part of Lloyd’s Register, it draws on a long heritage of fresh, innovative thinking in response to new technologies and challenges. The one consistent element is its commitment to independence, integrity and always doing the right thing.About LR
Lloyd’s Register (LR) is a global engineering, technical and business services organisation wholly owned by the Lloyd’s Register Foundation, a UK charity dedicated to research and education in science and engineering. Founded in 1760 as a marine classification society, LR now operates across many industry sectors, with over 9, 000 employees in 78 countries.LR has a long-standing reputation for integrity, impartiality and technical excellence. Our compliance, risk and technical consultancy services give clients confidence that their assets and businesses are safe, sustainable and dependable. Through our global technology centres and research network, LR is at the forefront of understanding the application of new science and technology to future-proof our clients’ businesses.

About OPTION

OPTION is a joint industry project seeking to develop an integrated reservoir and well simulation model to assist in the evaluation of Enhanced Oil Recovery concepts. The project focuses on the flow of reservoir fluids through the reservoir and the wells taking into account geologic uncertainties and production optimisation. OPTION is partly funded by the Innovation Fund Denmark and is a collaboration between industry partners Lloyd’s Register Energy, and its consulting business – Lloyd’s Register Consulting; LR Senergy; Welltec; DONG Energy; the Technical University of Denmark (DTU); and the University of Copenhagen.

About DONG Energy

DONG Energy is one of the leading energy groups in Northern Europe. Their business is based on procuring, producing, distributing and trading in energy and related products in Northern Europe. Headquartered in Denmark, DONG Energy has around 6, 500 employees.

About Welltec A/S

Welltec A/S develops and provides well technology and solutions for the oil and gas industry. Their technology and solutions are dedicated to aid in optimizing the performance of reservoirs by providing the necessary solutions to do so, both in the form of well completion technology and intervention solutions which ensure the well performance and integrity.

About the Innovation Fund Denmark

The Innovation Fund Denmark supports the development of knowledge and technology leading to a strengthening of research and innovative solutions including societal challenges for the benefit of growth and employment in Denmark.

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