One trip completion assembly system and method

A method of installing a production string in a wellbore, the method comprising:

• deploying a lower completion portion and an upper completion portion together into a wellbore at the same time;
• circulating fluid down through the lower completion portion and into the wellbore annulus adjacent the lower completion portion;
• following the step of circulating through the lower completion portion, enabling flow through a screen and into a base pipe of the lower completion portion;
• actuating a lower circulation valve to move the lower circulation valve from a first open position to a second closed position;
• setting a packer positioned above the lower circulation valve;
• actuating an upper circulation valve to move the upper circulation valve from a first closed position to a second open position;
• with the upper circulation valve in the second open position, circulating fluid down through the upper completion portion and into the wellbore annulus above the packer;
• following the step of circulating through the upper completion portion, actuating the upper circulation valve to move the upper circulation valve from the second open position to the first closed position;
• increasing internal pressure within the production string to a threshold pressure to ensure string integrity;
• increasing annular pressure to a threshold pressure to ensure desired operation of the packer;
• bleeding off the internal and annular applied pressures;
• and
• actuating the lower circulation valve from the second closed position to the first open position.