Sustainable Redevelopment of the Volve Field Amidst Recent Energy Security Challenges Faced by Northwestern Europe; A Case Study from Central North Sea

Abstract

Abstract This study outlines the brownfield development plan that was employed for the Volve oil field in the central North Sea. The Volve field had been abandoned in 2016 due to economic reasons. Data from the Equinor Volve field repository was analyzed with a focus on the Hugin sandstone reservoir of Mid-Jurassic age. The goal was to identify the most suitable techno-economic approach to extend the life of the asset while also being environmentally sustainable. The study was framed around a comprehensive geological, petrophysical, reservoir and production engineering evaluation that served as a basis for a detailed economic evaluation for the asset. The resulting dynamic reservoir model included a thorough history matching of the wells’ and field's production behavior to identify the remaining sweet spots. Two field development options were evaluated driven by critical economic variants such as Net Present Value, Internal Rate of Return, and Payout Period, using the UK Royalty/Tax fiscal regime as the framework for calculating cash flow. Methods to achieve a low carbon footprint were also incorporated. The first option, a double peripheral layout spot pattern with six producers and two injectors, achieved the highest incremental production growth. However, due to its significant environmental impact, it was deemed unsuitable. Based on the economic evaluation, the optimal scenario for the redevelopment of Volve field was six producers, two water injectors and one water source well. The base development plan included latest development in drilling technologies such as Managed Pressure Drilling (MPD), advanced Inflow Control Device (ICD) completions for producers as well as regulating water injection through WFR's and digital end-to-end solutions. All considered scenarios were evaluated for their carbon footprint, and sustainable technologies were considered in the final plan for seeking approval from governing regulatory authorities. The Volve field re-development plan has been achieved through deployment of novel techniques to smartly drill and complete wells to achieve sustainable incremental reserves. The redevelopment of Volve field is considered critical in the current energy demand and security challenges faced by Northwestern Europe and aims to open several other assets which have been considered non-viable during the last downturn.