An Interactive 5-Day Training Course
Asset Management for Subsurface Teams
Managing a Producing Subsurface Asset
Secure your spot now!
Duration
5 Days
Price
$ 3,000
Starting From
20 Sep 2027
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Asset Management for Subsurface Teams
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Asset Management for Subsurface Teams - GG-ASSET-PEA27
| Code | Date | Time | Duration | Location | Currency | Early Bird Fee Per Person |
|---|---|---|---|---|---|---|
| GG-ASSET-PEA27 | 20 - 24 Sep 2027 | 10 AM CST | 4 Hours Per Day |
Online |
USD |
3000 |
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Asset Management for Subsurface Teams
This training covers asset management from a subsurface perspective. It works through the asset management cycle, reservoir management plans, surveillance programme design, production and reserves performance tracking, opportunity identification and maturation, work programme and budget construction, well and intervention planning, partner and regulatory obligations, late life and decommissioning decisions and the measurement of asset performance.
Description
A subsurface team on a producing asset is responsible for the reservoir's performance over years, which is a different job from completing a study. It involves maintaining a current understanding of the reservoir, running a surveillance programme that produces the data to do so, identifying and maturing opportunities, building and defending an annual work programme, meeting partner and regulatory obligations, and making decisions about the asset's remaining life.
This training covers that role. The asset management cycle is established first, covering the recurring annual and multi-year rhythm of plan, execute, monitor and revise. Reservoir management plans follow, covering their content and their use as a working document. Surveillance programme design is then developed, covering the data to acquire and its justification. Production and reserves performance tracking follow. Opportunity identification and maturation are then addressed, covering the pipeline from idea to funded activity. Work programme and budget construction follow. Well and intervention planning are then developed. Partner and regulatory obligations are addressed. Late life and decommissioning decisions follow. The training closes with performance measurement.
A reservoir management plan that is written once is a document; one that is revised annually is a tool. The plan states the current understanding of the reservoir, the depletion strategy, the surveillance programme, the opportunities identified and the decisions pending. Its value comes from being updated as wells are drilled and production data accumulates, so that it always reflects the current position. A plan written at project sanction and filed is of historical interest only, and this is the usual fate.
Surveillance data has to be justified against a decision or it will be cut. A proposal to run production logs on six wells, to shoot a repeat seismic survey or to install permanent downhole gauges competes against other uses of the money, and a justification based on improving understanding will lose. A justification stating which decision the data will inform, what the current uncertainty is costing and what the data would change gives the proposal a basis that survives budget scrutiny.
The opportunity pipeline needs to be maintained ahead of the work programme. An asset that identifies opportunities in the same year it intends to execute them will have a thin programme, because maturing an infill well from idea to drillable target takes time: subsurface work, well design, cost estimation, partner approval. Maintaining a stock of opportunities at various stages of maturity, with a few always ready to execute, is what allows an asset to respond when capital becomes available or a rig slot opens.
Finally, the late life decision is made too late in most assets. Continuing to produce an asset that is cash positive is straightforward; deciding when to stop requires comparing the remaining value against the decommissioning cost, which rises with deferral in present value terms but is certain. Assets frequently continue past the economically optimal point because stopping requires a decision and continuing does not. Running the comparison annually, rather than when production falls below a threshold, puts the decision where it belongs.
By the end of this training, participants will be able to:
- Operate the asset management cycle through its annual rhythm
- Write and maintain a reservoir management plan
- Design surveillance programmes justified against decisions
- Track production and reserves performance against expectation
- Identify and mature opportunities through a pipeline
- Construct and defend a work programme and budget
- Plan wells and interventions
- Meet partner and regulatory obligations
- Assess late life and decommissioning timing
- Measure and report asset performance
The training works on producing asset data through a full management cycle. Participants write reservoir management plans, design surveillance programmes and justify them against decisions, build opportunity pipelines and construct work programmes under budget constraint. Programmes are defended to a panel acting as asset management and partners.
Organisations sending participants to this training will:
- Maintain reservoir management plans as working documents
- Justify surveillance spend against decisions
- Maintain an opportunity pipeline ahead of the programme
- Build work programmes that survive scrutiny
- Meet partner and regulatory obligations reliably
- Make late life decisions at the right time
Participants will:
- Operate as an asset subsurface team member
- Write and maintain reservoir management plans
- Design and justify surveillance programmes
- Mature opportunities to executable state
- Build and defend work programmes
- Contribute to asset life decisions
- Production and development geologists
- Reservoir engineers on producing assets
- Petrophysicists in asset teams
- Subsurface team leaders
- Asset and operations managers
- Technical staff moving into asset roles
- Planning staff supporting assets
Module 1 - The Asset Management Cycle
- Asset management objectives
- Annual planning cycle
- Multi-year planning horizons
- Plan, execute, monitor, revise
- Subsurface role in the cycle
- Interfaces with operations and facilities
- Interfaces with drilling and wells
- Interfaces with commercial and planning
- Decision rights within an asset
- Meeting and reporting rhythm
- Resourcing a subsurface asset team
- Capability requirements
Module 2 - Reservoir Management Plans
- Plan purpose and audience
- Current reservoir understanding section
- Depletion strategy statement
- Well and completion strategy
- Injection and pressure management strategy
- Surveillance plan section
- Opportunity inventory
- Uncertainties and pending decisions
- Performance against plan review
- Annual revision process
- Plan as a working document
- Common plan failures
Module 3 - Surveillance Programmes
- Surveillance objectives
- Linking data to decisions
- Pressure surveillance design
- Production logging programmes
- Saturation monitoring
- 4D seismic programmes
- Tracer and interference testing
- Permanent monitoring installations
- Fluid sampling programmes
- Frequency and coverage decisions
- Cost and justification of surveillance
- Defending surveillance budget
Module 4 - Performance Tracking
- Production performance against forecast
- Well by well performance analysis
- Decline analysis and its monitoring
- Water and gas production trends
- Pressure performance against prediction
- Diagnosing underperformance
- Reserves performance tracking
- Reserves revisions and their causes
- Recovery factor tracking
- Model updating from performance
- Performance reporting
- Learning from prediction failures
Module 5 - Opportunity Identification and Maturation
- Opportunity types in producing assets
- Infill drilling opportunities
- Sidetrack and re-entry opportunities
- Recompletion and perforation opportunities
- Water and gas shutoff
- Stimulation opportunities
- Artificial lift optimisation
- Enhanced recovery screening
- Near field exploration
- Opportunity screening and ranking
- Maturation stages and gates
- Maintaining a pipeline ahead of execution
Module 6 - Work Programme and Budget
- Work programme construction
- Activity selection and sequencing
- Capital and operating budget split
- Cost estimation for activities
- Value ranking of activities
- Budget constraint and prioritisation
- Contingency and flexibility
- Rig and resource availability
- Partner approval requirements
- Programme defence and challenge
- In-year revision
- Tracking delivery against programme
Module 7 - Wells, Interventions and Obligations
- Well proposal development
- Target definition and prognosis
- Well design interface with drilling
- Intervention candidate selection
- Intervention planning and scheduling
- Rig and vessel scheduling
- Post-activity review
- Partner reporting obligations
- Technical committee processes
- Regulatory reporting requirements
- Production allocation and metering obligations
- Licence work commitments
Module 8 - Late Life and Performance Measurement
- Late life asset characteristics
- Economic limit calculation
- Cessation of production decisions
- Decommissioning cost and its timing
- Present value of deferral
- Annual continuation review
- Repurposing options assessment
- Divestment considerations
- Asset performance metrics
- Benchmarking against comparable assets
- Reporting performance to management
- Capturing lessons from asset life
Upon successful completion of this training course, delegates will be awarded an official Certificate of Completion issued by the Petroleum Engineers Association (PEA), an ISO 9001:2015 certified training organization. The certificate carries 10 Credits and formally records the total learning hours completed.
Each certificate is signed by the Course Facilitator and the CEO of the Petroleum Engineers Association, and serves as verifiable proof of professional training that delegates can present to employers and professional bodies worldwide.
Frequently Asked Questions
All course bookings made through PEA are strictly non-refundable. By registering for a course, you acknowledge and accept that all fees are payable in full and are not subject to refund under any circumstances, including changes in personal or professional commitments or partial attendance.
PEA reserves the right to make reasonable adjustments to course content, trainers, or schedules where necessary, without entitling delegates to a refund. Comprehensive details of each course — including objectives, target audience, and content — are clearly outlined before enrolment, and it is the responsibility of the delegate to ensure the course's suitability prior to booking.
For any inquiries related to cancellations or bookings, please contact our support team, who will be happy to assist you.
