Definition of Mature Fields
Mature oil and gas fields currently account for more than 70% of the world’s oil and natural gas production. With fewer new fields being discovered and a growth in ageing fields, increasing importance is being placed on maximising ultimate recovery of the world’s mature oil and gas fields.
A field is considered “mature” when overall production has started to decline following primary recovery efforts or when all of its “easy” hydrocarbons have been produced. Mature fields typically still contain about 30% of their original gas and 65% of their original oil.
It is estimated that a 1% increase in the global recovery factor of mature fields would add the equivalent of two years of global production to the reserve base hence creating an enormous opportunity for the industry. Governments in many countries are placing a growing emphasis on recovery and production enhancement in their legislation and fiscal terms.