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Early Production Systems - When Do They Make Good Sense for Your Projects?

Ellen Coopersmith, Decision Frameworks
June 25 2014 (SDP Webinar - Invited Talk)

Early production systems in the oil and gas industry are essentially pilots or phased field development concepts, which many companies are intrigued by, yet struggle to justify economically. But why is that the case? From a Decision Quality perspective, perhaps the struggle comes in part from hesitance to evaluate these types of development concepts in a manner which properly accounts for the reduction in project risk and uncertainty which is "bought" with an Early Production System. Or perhaps there is discomfort with the risk versus value trade-off that may be appropriate for some management teams to make when selecting an Early Production System option, versus a full field development plan.

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Keywords: framing framestruc, evaluation anamod, voi voivoc, modeling modtree, decision tree dectree

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