BPUnveils 'Field of the Future' Program for Ramping Up Production

BP will display its Field of the Future™ program, which is at the center of the company's goal to increase production by 100,000 barrels a day by 2017, at SPE Intelligent Energy 2010 in Holland starting today (23-25 March, Jaarbeurs, Utrecht).

Routinely supporting more than 80 percent of its top producing wells, the BP Field of the Future program seeks to improve decision-making through real time data capabilities in production and reservoir management. Since it was initiated five years ago, the program, which is now a routine part of how BP builds projects and operates fields across its portfolio, provides a suite of technology-based solutions focused on making better decisions faster -- and to enable BP to get more oil and gas out of its reservoirs more quickly and efficiently.

Through the application of these technology solutions across a number of businesses, by working to achieve effective uptake in their organizations, and with the support of their business leadership, this BP Flagship Technology Program is well ahead of its plan to achieve significant production and reserve targets.

Since 2007, BP's oil and gas operations, enabled by real-time data and technologies, including BP proprietary Field of the Future solutions, have delivered an extra 30,000 to 50,000 boepd gross production each year from around 25 percent of the company's portfolio.

"In a relatively short time, digital technology has introduced radical improvements into every facet of exploration and production. Thanks to the efforts of the companies at Intelligent Energy 2010, the pace of change shows no signs of slowing down," said David Latin, Vice President of E&P Technology, BP and a co-chair of SPE Intelligent Energy 2010. "At BP, Intelligent Energy means combining the effective application of leading-edge technology with the power of a functional organization, innovative people and leadership discipline. Intelligent Energy is a dynamic concept and at BP we seek to continually improve what we apply and where we apply it."