A €4 million (£3.4 million) research project by Lloyd’s Register Energy, Senergy, the Danish Technical University and Welltec has been launched to optimize production from horizontal wells.
The project, called Project OPTION, is being funded by the Danish National Advanced Technology Foundation
The initiative aims to align existing reservoir simulation models with high-performance inflow and wellbore flow simulators.
Lloyd's Register Consulting and Senergy will provide improved reservoir modelling techniques, which will be critical to the development of the next generation of industry software technologies.
The increased understanding of the interface between reservoir and well performance will improve well and completion design to enhance productivity and oil recovery.
If successful, even a 1% increase in oil recovery from Danish fields would represent an estimated value of DKK60 billion (about €8 billion / £6.8 billion) to the Danish economy.
Claus Myllerup, senior VP Technology at Lloyd’s Register Energy said: “The research and techniques within this project will become central for the ability to improve predictions of reservoir recovery rates. Project OPTION will be central to our ability to improve the prediction of the recovery factor and thereby assist our clients to assess measures that must be implemented to optimise recovery.”
The project marks one of the first significant collaborations between Lloyd’s Register Energy and Senergy, since Lloyd’s Register’s investment in the energy services company in September 2013.
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