Economic And Sensitivity Analysis Stimulation Of Coiled Tubing And Bullhead Combination On A Horizontal Well

Authors

  • Adalard Dominique Economic Science and Buisness Administration Department, University of Caen Normandy, Caen, France.
  • Patrice Trey Xavier Economic Science and Buisness Administration Department, University of Caen Normandy, Caen, France.
  • Olliver Leo Sandre Economic Science and Buisness Administration Department, University of Caen Normandy, Caen, France.

DOI:

https://doi.org/10.25299/jgeet.2023.8.2.14495

Keywords:

Workover, Coiled Tubing Unit, Bullhead, Economics Indikators

Abstract

Production decreased often occur in Indonesia's oil and gas fields which becomes a problem for oil well exploration. Thus the role of the company demands to be able to re-optimize the flow rate of oil production in the oil and gas field. One of the workover jobs was stimulation. The function of the work was to stimulate the wells mechanically and chemically which aimed to increase the productivity of wells that have experienced a decrease in oil production, in which mechanical stimulation was in the form of coiled tubing units and bullhead used chemical stimulation, namely acidizing and solvent. To prove the economy of the coiled tubing unit and bullhead stimulation work, calculations and analysis of economic indicators such as net present value (NPV), internal rate of return (IRR), and payout time (POT) can be carried out. Where this study aimed to determine the economics of the stimulation project carried out on the horizontal wells of the RD field. The results of the calculation of economic indicators that will be feasible are not like this stimulated workover work project with an investment of US$ 133,053 acidizing coiled ribbing oil price of 68.51 USS/bbl thus the calculation of NPV @ 10% 60631 USS, POT 0.74 months, P1 9, is obtained. 73, IRR 355%, coiled tubing solvent well US$ 185,967.166 NPV@ 10% 98,431 USS, POT 3.94 months, PI 3.69, IRR 103%, bullhead acidizing well US$ 8858.31 value NPV@10% 218029 USS, POT 0.95 months, P1 45.16, IRR 1890% and bullhead solvent USS 72745 value NPV@10% USS 248586, POT 0.94 months, PT 52.53, IRR 1822%. Sensitivity analysis on stimulated workover work is carried out by changing the assumptions with 85% and 115% then the results obtained are the oil price value which is the parameter that most influences the NPV value then oil production, and capex. From the results of profit indicator calculations and sensitivity analysis, it can be concluded that the stimulated workover work in the RD field is all feasible because it meets the eligibility requirements of a project.

Downloads

Download data is not yet available.

References

Apolianto, E., & Mucharam, L. (2012). Evaluasi perencanaan dan hasil perforasi berdasarkan target performa lapangan x. SPE Annual Technical Conference and Exposition, XIX(1), 13–26.

Ariyon, M. (2013). Analisis Ekonomi Pemilihan Electric Submersible Pump Pada Beberapa Vendor. Journal of Earth Energy Engineering, 2(2), 8–18.

Ariyon, M., & Dewi, E. K. (2018). Studi Perbandingan Keekonomian Pengembangan Lapangan Minyak Marjinal Menggunakan Production Sharing Contract. Seminar Nasional Teknologi Dan Rekayasa, 23–29.

Ariyon, M., Setiawan, A., & Reza, R. (2020). Economic Feasibility Study of Onshore Exploration Oil Field Development using Gross Split Contract Economic Feasibility Study of Onshore Exploration Oil Field Development using Gross Split Contract.

Daniel, H. (2017). Indonesian milestone in production-sharing contract in perspective of government take, contractor take, cost recovery and production target.
Society of Petroleum Engineers - SPE/IATMI Asia Pacific Oil and Gas Conference and Exhibition 2017, 2017-Janua, 1–18.

Desyta, P., Kasmungin, S., & Wibowo, D. A. (2018). Analisa Perencanaan Reaktivasi Sumur Lapangan “Pad” Untuk Zona “a.” Penelitian Dan Karya Ilmiah, 3(2), 51.

Fajri, M. (2019). ANALISIS HUKUM SKEMA KONTRAK GROSS SPLIT TERHADAP PENINGKATAN INVESTASI HULU MINYAK DAN GAS
BUMI Muhammad Fajri * *. Hukum Dan Pembangunan, 50(1), 54–70.

FISU, A. A. (2019). Analisis Kelayakan Ekonomi & Finansial pada Masterplan Kawasan Industri Perikanan Kota Tarakan. 1–13.

Handika, I. (2019). INFLUENCE OF PSC CHANGES IN THE UPSTREAM SECTOR FROM COST RECOVERY SYSTEM INTO GROSS SPLIT TOWARDS THE OBLIGATION TO PAY LAND AND BUILDING TAX *. 31, 126–139.

Hernandoko, A. (2018). Implikasi Berubahnya Kontrak Bagi Hasil ( Product Sharing Contract ) Ke Kontrak Bagi Hasil Gross Split Terhadap Investasi Minyak Dan Gas Bumi Di Indonesia. VI(2), 160–167.

Jati, N., Rahman, F., Kurniawan, H., Sari, Z. F., & Puspasari, S. (2015). Design of experiment and statistical approach to optimize new zone behind pipe opportunity: North Roger Block case study. Society of Petroleum Engineers - SPE/IATMI Asia Pacific Oil and Gas Conference and Exhibition, APOGCE 2015.

Kaesti, E. Y. (2011). Keberhasilan optimasi kerja ulang pindah lapisan (kupl). 4(2), 2–7.

Kusrini, D., & Abror, M. M. (2019). Analisa Perhitungan Keekonomian Lapangan “ X ” West Java Basin Menggunakan Metode PSC ( Production Sharing Contract ). 3(2), 1–7.

Nandasari, P., & Priadythama, I. (2015). Analisis Keekonomian Proyek Perusahaan Minyak Dan Gas Bumi : Studi Kasus Abc Oil.

Newnan, D. G., Eschenbach, T. G., & Lavelle, J. P. (2004). Engineering Economic Analysis (9th ed.). Oxford University Press.

Peraturan Menteri Energi dan Sumber Daya Mineral Republik Indonesia No. 52 Th 2017 tentang Perubahan Kontrak Bagi Hasil Gross Split. (2017). Menteri ESDM.

Pramadika, H., & Satiyawira, B. (2018). Pengaruh Harga Gas Dan Komponen Variabel Terhadap Keuntungan Kontraktor Pada Gross Split. Petro, 7(3), 113.

Prasetyawati Umar, E., Rianto Pradana, E., Rauf Husain, J., & Nurwaskito, A. (2017). Perbandingan Hasil Produksi Berdasarkan Pengaruh Workover Terhadap Hasil Produksi Sumur Walio 212 Pt. Petrogas (Basin) Ltd, Kabupaten Sorong, Provinsi Papua Barat. Jurnal Geomine, 5(3), 120–123.

PT. Chevron Pacific Indonesia.(2019). Data Lapangan, Data Operasi dan Data Produksi Minyak Sumur NZBP.

Purnatiyo, D. (2014). Analisis Kelayakan Investasi Alat Dna Real Time Thermal Cycler (Rt-Pcr) Untuk Pengujian Gelatin. Jurnal PASTI, 8(2), 212–226.

Rahayu, S. A. P. (2017). Prinsip hukum dalam kontrak kerjasama kegiatan usaha hulu minyak dan gas bumi. Yuridika, 32(2), 336–354.

Rudiyono, A. (2019). Project Economic Evaluation of Low Permeability Reservoir Development Using Discounted Cash Flow Method and Real Option Analysis for Investment Decision. PETRO:Jurnal Ilmiah Teknik Perminyakan, 8(3), 81.

Rulandari, N., Rusli, B., Mirna, R., Nurmantu, S., & Setiawan, M. I. (2018). Valuation of Production Sharing Contract Cost Recovery Vs Gross Split in Earth Oil and Gas Cooperation Contracts in Indonesia and the Aspect of Public Service. Journal of Physics: Conference Series, 1114(1).

Shobah, S., Widhiyanti, H. N., Audrey, P., & Kn, M. (2015). Cost Recovery Dalam Kontrak Kerjasama Minyak Dan Gas Bumi Di Indonesia Ditinjau Dari Hukum Kontrak Internasional. Jurnal. Universitas Brawijaya, 79.

Wajong, M. (2017). Indonesia ’ s new Gross Split PSC. January, 1–17.

William, Kartoatmodjo, T., & Prima, A. (2017). Studi Kelayakan Keekonomian Pada Pengembangan Lapangan. Seminar Nasional Cendekiawan, 273–278.

Downloads

Published

2023-10-05

Issue

Vol. 8 No. 2 (2023): JGEET Vol 08 No 02 : June (2023)

Section

Research Articles

License

Copyright @2019. This is an open-access article distributed under the terms of the Creative Commons Attribution-ShareAlike 4.0 International License which permits unrestricted use, distribution, and reproduction in any medium. Copyrights of all materials published in JGEET are freely available without charge to users or / institution. Users are allowed to read, download, copy, distribute, search, or link to full-text articles in this journal without asking by giving appropriate credit, provide a link to the license, and indicate if changes were made. All of the remix, transform, or build upon the material must distribute the contributions under the same license as the original.