EVALUATING ALTERNATIVES ON LOSS PRODUCTION OPPORTUNITY DUE TO SURFACE FACILITY CONSTRAINT: CASE STUDY OF ANOA & PESUT GATHERING STATION IN PT RCI
As one of the largest oil and gas contractors in Indonesia, PT RCI has managed and optimized the exploration and exploitation in Romeo block for more than 90 years, including from Pesut field and its surrounding satellite fields. As the field & facility ages, increasing fluid production and...
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| Format: | Theses |
| Language: | Indonesia |
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| Online Access: | https://digilib.itb.ac.id/gdl/view/51894 |
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| Institution: | Institut Teknologi Bandung |
| Language: | Indonesia |
| Summary: | As one of the largest oil and gas contractors in Indonesia, PT RCI has managed and
optimized the exploration and exploitation in Romeo block for more than 90 years,
including from Pesut field and its surrounding satellite fields. As the field & facility
ages, increasing fluid production and operational policy changes has caused
unrealized production opportunity which lead to significant revenue deferment,
estimated 40,000 bbls of oil or equal to 2.5 MM$ of revenue deferment per year.
The research aims to determine the best alternative to reduce the Loss Production
Opportunity (LPO) by improving the existing asset. A team consists of experts was
gathered to perform root cause analysis to pinpoint the underlying problem as well
as identifying potential alternatives. The research would like to dig deep into the
problem and identify how multiple factors contribute to the unrealized production.
Using Value Focused Thinking (VFT) approach, project team started by brainstorm
the values and goals that team would like to achieve, and developed list of
alternatives to meet those value objectives.
There were four alternatives identified and multi criteria decision making using
Analytical Hierarchy Process (AHP) is carried out to select the best alternatives to
reduce the LPO and improve production within Pesut GS system, using three key
criteria: safety, reliability, and economic impact. The result suggested that creating
jumper line to connect Pesut GS system to adjacent Anoa GS system is the most
preferred alternative.
The alternative selected is expected to deliver superior near-term economic impact,
high system reliability and manageable safety risk with relatively low investment
cost. The selected alternative is expected to recover 41,000 bbls of unrealized oil
production until the end of concession in August 2021. The proposed alternative
might provide additional contractor’s Net Present Value (NPV) of $23,785 with
profitability index of 1.6. |
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