new technologies speed offshore development

Take it from Matt Johnson, a Chevron field development and portfolio optimization specialist: The right technologies can be game changers in the realm of offshore energy development.

In fact, one approach-using field development optimization tools-is cutting down certain timelines from days to hours. These tools are used to create automated workflows that help drive faster, more informed decisions.

This new technology, first tested by Chevron in gas fields off of the northwest coast of Australia, creates forecasts that detail a field's development options and economic potential. It could help bring offshore developments online faster.

"This workflow uses complex digital models of reservoirs to estimate a range of potential hydrocarbon production," said Johnson.