Recent advancement in well technologies, communications and field instrumentation has made it possible to achieve total asset awareness and optimize operations over the field's development lifecycle. This is achieved by leveraging fields' real-time data for continuous monitoring and right-time response throughout the development processes. Right-time response has two components: Fast Interventions being done today as a product of an intra-process optimization, and Strategic Interventions based on more detailed modeling, discussed in the next steps section. The results of this integration have led to optimized drilling operations and well placements, increased production rates, and improved reservoir management and production operations. Real-time integration in the business processes, in turn, has introduced further opportunities for higher hydrocarbon recoveries and lower operating costs and capital expenditures.
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