What is well completion in SAP IS-OIL-PRA - Production and Revenue Accounting?

SAP Term: well completion

• Component: IS-OIL-PRA

• Component Name: Production and Revenue Accounting

• Description: A perforation made in the tubing of a well beneath the surface of the ground, which allows commercial quantities of hydrocarbon to be accessed by the well through the tubing.

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• Key Concepts: 
  Well completion is a process in the SAP IS-OIL-PRA Production and Revenue Accounting component that involves the preparation of a well for production. This includes activities such as installing the necessary equipment, such as pumps, valves, and other components, to ensure that the well is ready for production. 
  
  How to use it: 
  In order to complete a well in SAP IS-OIL-PRA Production and Revenue Accounting, users must first create a well completion record. This record contains information about the well, such as its location, depth, and type of equipment installed. Once the record is created, users can then enter the necessary data into the system to complete the well. 
  
  Tips & Tricks: 
  When creating a well completion record in SAP IS-OIL-PRA Production and Revenue Accounting, it is important to ensure that all of the necessary information is entered accurately. This includes details such as the type of equipment installed and its location. Additionally, users should also ensure that all of the necessary safety protocols are followed when completing a well. 
  
  Related Information: 
  In addition to well completion, SAP IS-OIL-PRA Production and Revenue Accounting also includes other processes related to oil and gas production, such as production forecasting and revenue accounting. Additionally, users can also use SAP IS-OIL-PRA Production and Revenue Accounting to track production data over time and analyze trends in order to optimize operations.