Offshore drilling is an expensive undertaking, but is the means by which the United States increases its domestic oil production. Offshore oil drilling requires complex systems and setup that can take months to begin creating revenue at each new site.
Subsea early production systems can help companies begin production on a field earlier, so that the site begins making money earlier. Here’s how an early production system can help.
Subsea early production systems get new oil wells off and running quickly, so that production happens without a lot of cash outlay, and without waiting for all of the production systems being completely set up. This can mean revenue months earlier than if you had to wait for permanent facilities to be built.
Another benefit of putting in a subsea early production system is that these systems offer diagnostics that can be valuable for the company as the well begins production. By taking advantage of this information, you can make predictions about how the well will perform, and make decisions about how to move forward. Early production systems help eliminate the possibility of spending a lot of money to get a well up and running only to find that it does not produce well.
Finally, subsea early production systems can make it possible for companies to harvest from smaller reserves that could not produce enough oil to make it financially feasible to build a permanent facility. With an early production system in place, your upfront cost is minimal, and provides all you need to take advantage of a small reserve.
As you can see, subsea early production systems offer great benefits for oil companies to help them harvest reserves quickly and inexpensively while creating permanent facilities for large wells. This technology has revolutionized offshore drilling for many companies.
