A subsea early production system provides oil production through a temporary processing system that exports the extracted oil to storage vessels for market transport. Deep water offshore developments can lead to profitable investments for corporations. As it stands, a major way to reduce reservoir risks is to deploy a subsea early production system (EPS). There are good reasons for the deployment. An EPS is cheaper to build, reduces the time it takes to get to “first oil,” and provides a far better understanding of the reservoir’s products capabilities after one or two years of production.
Present Subsea Early Production System Concerns
There are conventional EPS solutions that can presently exploit deep/ultra-deep waters. However, the cost of mooring lines and risers are likely to challenge the practicality of these present systems; thus increasing the need for alternate solutions that are more economical as operations call for increased water depth.
Increasing Oil Discoveries
Around the world, there are a large number of deep-ocean oil reserve discoveries. These discoveries, combined with mild sea conditions, present huge investment opportunities for corporations. However, the industry is advancing and working on solutions that address current challenges that tend to hinder main EPS technical and economic drivers. The solution is an autonomous EPS system that offers greater possibilities of enhancing well production tests, and reservoir monitoring.
Early production systems allow operators to critique the well performances, evolution time, and production crude content. The systems make it much easier for operators to estimate a targeted reservoir’s size and long-term productivity. Operators gather pure data that allows them to better plan for full oil field development—and with far greater confidence. This capability is huge for industry players. They can avoid unnecessary CAPEX, or, proceed with originally planned developments:
Acquiring better reservoir data
Better planning for field development
Generation of cash flow
Additional EPS Benefits
Companies can profit from crude produced through EPS efforts. They can also benefit through increased reservoir management opportunities. The potential economic benefits are obvious.
If there are reduced profits during the EPS phase, it can be justified as a result of gaining vital knowledge of the oil field. This knowledge can give a green light to pursue oil field development.