New software application for integrated value and risk assessment of oil-and-gas projects
Practical tool for
Geoscientists
Reservoir engineers
Economists
Decision makers
Typical tasks
- Reserves and resources estimation. Reliable basis for PRMS categorization (1P-2P-3P, 1C-2C-3C or 1U-2U-3U)
- Project risk evaluation. Detection and quantification of implicit risks
- Aggregation of units (reservoirs, fields, prospects, etc.) with a robust statistical tool
- MEFS (Minimum Economic Field Size) estimation for various economic conditions
- Production forecast and tentative development planning (oil and natural gas projects)
- Project Economics. Probabilistic analysis (using all income and cost variables) in different fiscal environments
- Data value assessment (e.g. value vs. cost for new wells, seismic surveys, facilities, etc.)