The purpose of this white paper is to summarize the IO Center’s experience, findings and knowledge on daily production optimization that are of relevance for the upstream industry in general and the IO Center partners in particular. Even though the challenges might vary from asset to asset, there are many common features regarding how the work is conducted, the type of decisions that are made, and the challenges faced. This has motivated us to write a white paper on the subject.
Note that this paper is not intended as a guideline on how to set up a production optimization team or which software tools to choose. Based on our experience it will instead give an overview of our understanding, examples of good practice, tips that should be considered, pitfalls that should not be overlooked and dilemmas that might appear. The white paper first gives an overview of IO in production optimization before it outlines the main approaches and results from the IO center research on this topic.
The paper seeks to summarize findings and concepts from our research for an audience of readers with general knowledge within engineering disciplines or petroleum production more generally.