OPTION (Optimizing Oil Production by Novel Technology Integration) is a €3.9-million ($4.2-million) collaborative project involving Lloyd’s Register Energy and its consulting business Lloyd’s Register Consulting; LR Senergy; Welltec; DONG Energy; the Technical University of Denmark; and the University of Copenhagen.
It is supported by a €2-million ($2.15-million) grant from the Innovation Fund Denmark.
The goal is to significantly improve simulation tools for the prediction and control of flow between horizontal wells and the reservoir, focusing on enhanced oil recovery. A one percentage point increase in the oil recovery factor for the Danish fields would represent an estimated value of DKK 40 billion ($5.77 billion) to the Danish economy at today’s oil price.
DONG Energy will contribute a subsurface dataset from the Siri and Stine fields.
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