How to Improve the Benefit of Greenfield Development – Case Study of an Offshore Marginal Oilfield

Abstract

Well-known offshore oil-gas-bearing basin such as the Gulf of Mexico, the North Sea, and the Bohai Bay has entered the middle and late stages of development, which can also be called the mature stage. As a mature petroliferous basin, there are always two sides to everything. Taking the Bohai Bay Basin as an example, six major regional oil production areas have been built in the basin. There are stable logistics links between the regions, including natural gas pipelines, power transmission, Floating Production Storage and Offloading (FPSO) sharing, and mature onshore oil and gas processing terminals. However, the oil and gas exploration in the Bohai Bay Basin has entered the late stage of its peak, and the discovery of giant and large oil fields is becoming more and more difficult. Many low-quality medium and small oil fields have been discovered. Under the current economic conditions, development technology and tax policies, the development of such oil fields is not profitable, so it is called marginal oil fields? How to develop such small and medium oil fields cost-effectively is one of the biggest challenges. This paper expounds that the development of green maiginal oil fields is promoted through multi-disciplinary cooperation and innovation, case stuy of maiginal oil field in Bohai Bay.