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XP UPLIFT

Our main focus is to deploy a different operational model in oil and gas fields to unlock new sources of value and cost savings
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Operational efficiencies by fit-to-purpose technology, extended life for mature fields

Our operational model

At the heart of our operational model is a digital transformation that include field data acquisition, digitization (including the historical data), integration and advanced analytics to enable faster and smarter decision making.
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XP operations Integrated Asset Management

IoT Hardware

Managed & Smart Field Devices

Data Acquisition

Real-time Data Capture & Smart Data Transmission

Data Management

Data integration, Connectivity & Translation

Historian

Time-series Historian

Business Intelligence

Data analytics

Visualization

Dashboards & Context-based views

Modelling

ell, Reservoir & Emissions Modelling & Simulations

Workflows

Asset Optimization

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Production Enhancement Contract (PEC)

Operational control is instrumental for success of our operating model

Incentives/ Risks

Transfer of rights

Outsourcing for fixed rate

Classic fixed rate contracts, e.g. Drilling, seismic etc.

KPI-based outsourcing

Projects linked to achievement of certain KPIs, e.g. drilling time planned vs. actual, project cost etc.

Risk service contract (RSC)

Similar to KPI-based, used for greenfields/ exploration licenses.

Service provide recovers incurred expenses + margin above after meeting contractual KPIs, usually tied to discovery / production

Client owns the license, reserves and production, and service provider assumes asset operatorship, CAPEX, and production risks

Production enhancement contract (РЕС)

Client owns the license, reserves and production, and service provider assumes asset operatorship, CAPEX, and production risks

Service provider’s investment pays back through service fee based on tariff per boe of delivered production

Fit for producing fields requiring rejuvenation with limited technological and/or investment capabilities

Joint activity

Sharing of financial results, reserves and production License title stays with the Client

Farm-in / JV / PSA

Transfer of license ownership, reserves and production, or shared usage with a partner

Shared use of subsoil with the partner in the joint venture and/or with the State

Learn more about key PEC terms →

Our production enhancement capabilities

Our technical capabilities and expertise are focused on fit for purpose technologies and processes for old wells and mature Oil & Gas fields rehabilitation.

Subsurface analysis and reservoir modelling.

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Stimulations, sand & water control.

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Artificial Lift & Completions.

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Flow Assurance.

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Process Optimization.

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Secondary and Third recovery.

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Benefits for asset owners

License owners can achieve significant benefits and create value for your business through cooperation with XP
What is the ultimate outcome? What are the key results? What are the key results? What do we bring?
Business Value increase
  • Production growth
  • Reserves growth
  • Cost reduction
  • GHG emissions reduction
  • More targeted operations
  • Higher production rates per operation
  • Lower cost of operations
  • More sustainable operations
  • Strong investment capabilities
  • Advanced data analytics
  • Strong technical capabilities & international expertise
  • Unique operational model

Case studies

We have achieve some impressive results for our clients, revitalizing their mature assets over the last decade

Romania – Project 1

Key project data

  • Partner: IOC
  • Location: Western Romania
  • Beginning of production:1967
  • PEC Inception date: April 2013
  • PEC duration: until 2028
  • Number of fields: 13
  • Number of active wells: 229
  • Geological zones: Pannonian, Miocene, basement

Assets problems

  • Declining production
  • High operating costs
  • Corrosion of equipment
  • Sand and water production
  • High Skin and formation damage
  • Significant losses of associated gas
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Production today (boe/d) is 120% higher than baseline production
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Cumulative Production (boe) since inception is 15% higher than XP’s Production Guarantee
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More than 60 MUSD invested into the development of the fields since handover
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OPEX per boe reduced by 40%
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Reduced Green House Gas intensity (tCO2eq/toe) by 68%
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Reduced Energy intensity (%) by 62%

Romania – Project 2

Key project data

  • Partner: IOC
  • Location: South-western Romania
  • Beginning of production: 1953
  • PEC new inception: 2016
  • PEC duration: until 2030
  • Number of fields: 13
  • Number of active wells: 209
  • Geological zones: Burdigalian,
  • Sarmatian, Meotian, Oligocene

Assets problems

  • Scale deposition that required acid
  • Sand production
  • Formation damage
  • High heterogeneity of reservoirs
  • Quality of well construction
  • High corrosion and paraffin
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Production today (boe/d) is 75% higher than baseline production
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Cumulative Production (boe) since inception is 25% higher than XP’s Production Guarantee
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Close to 60 MUSD invested into the redevelopment of the fields since 2016
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Surface facilities footprint reduced by a quarter
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Increased Green House Gas intensity (tCO2eq/toe) by 5%, but started with a very low number
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Reduced Freshwater withdrawal intensity (m3/toe) by 70%

Ukraine

Key project data

  • Partner: NOC
  • Location: Western Ukraine
  • Beginning of production: 1924
  • PEC inception date: October 2020
  • PEC duration: until 2035
  • Number of fields: 13
  • Number of active wells: 152

Assets problems

  • Low remaining pressures
  • Obsolete surface infrastructure
  • Poor geological model of assets and G&G data
  • Low economic attractiveness of new operations due to low production rates and success rates
  • Highest intensity of admin personnel

 

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Production today (boe/d) is 40% higher than baseline production
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MM Boe of hydrocarbons produced since handover (incl. MM 0.7 boe incremental)
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Minimum 30 MUSD investment commitment, of which ~15 MUSD invested already
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Drilled new well with production rate of 120 tcm/d of gas – highest producer in western Ukraine
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Reduced Green House Gas intensity (tCO2eq/toe) by 19%
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Reduced Energy intensity (%) by 2%