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Geophysics |
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We carry out geophysical assessments of license areas, prospects and fields in both onshore and offshore dispositions. Our geophysicists conduct purely geophysical assignments but more often they provide the first step in an INTEGRATED assessment of an asset; be that a license, prospect or field. Our inhouse geophysicists have on average 15 years experience gained mostly through working for oil companie in the major oil and gas provinces of the world.
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Technology |
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Our primary tool for seismic analysis and interpretation is Seismic Micro Technology's Kingdom suite. Mapping of indentified structures is conducted through use of the Petrosys mapping software. Assessments are conducted on Dell Precision Workstations an printing support is provided through HP large format full colour printers.
Our personnel have experience of using Landmark software for seismic interpretation and this can be used if it is a client preference.
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Project Experience |
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The projects below required geophysical input.
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| Deep Water License Assessment - West Africa |
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| Developed an independent resource and reserves assessment for the Client’s acreage in conformance with the PRMS standard; carried out full seismic interpretation, prepared reservoir assessment and production profiles, developed outline field development plans and also conducted full development and operating cost assessment. Development of the discoveries found in the acreage would require the use of innovative productions solutions. Based on the commercial terms associated with the acreage and the technical and cost assessment described above developed an independent valuation . Also carried out a full prospectivity assessment of the acreage based on recently acquired 3D seismic data.
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| Reserves Certification – Kazakhstan Property |
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| Carried out a preliminary and detailed reserves certification and valuation for a small oil field in Kazakhstan’s Pre-Caspian basin. Developed a seismic interpretation and used available well log and test data to develop a reserves determination to PRMS standard.The Certification was used as part of an investment funding process designed to establish funds for development of the field and to carryout further exploration of the license area. Also developed an exploration plan for further evaluation of the license area including deep pre-salt carbonate structures.
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| Exploration Support and Planning - Europe |
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| Formed an integrated geophysics, geology, reservoir engineering and economics team for the Client during the development of a free standing Exploration and Production (E&P) group in the company. Carried out extensive technical consultancy associated with key E&P operations including:
• Assessment of license areas during government bid rounds and the preparation of technical and commercial bids.
• Attendance at data rooms including technical and economic analysis of potential acquisition targets along with preparation of technical and commercial bids and participation in negotiations.
• Detailed assessment of acquired license areas from a geophysical and geological aspect. Analysis of available seismic, well and regional geological data.
• Planning of seismic acquisition campaigns either as infill seismic or Greenfield. Supervision of campaigns and the processing of acquired seismic data. Reprocessing of available seismic data.
• Field assessment to establish reserves in accordance with the PRMS system and conceptual field development plans.
Presented plans for all stages of the work to the company’s management seeking approval through an Approval For Expenditure system. The work was focused primarily both onshore and offshore in a Central European belt stretching from the North Sea through to Black Sea; also covered other areas including North Africa.
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| Asset Acquisition - Kazakhstan |
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| Assisted a Client looking to acquire a share in of a number of assets in western Kazakhstan, in the Pre-Caspian Basin and the Mangyshlak. Carried out full technical and economic evaluations of each asset including: seimic interpretation verification; geological model validation; development of independent PRMS assessment including 1P, 2P and 3P reserves and contingent resources; review of detailed Field Development Plans (in Russian); detailed cost verification and assessment; asset valuation including Net Present Value and Fair Market Value - the latter was based on Bayphase'proprietary data base of Kazakhstan oil field equity transactions. Assisted the Client in making his acquisition decisions and development of his acquisition strategy.
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| Reserves and Resources Audit - Nigeria |
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| Carried out a Reserves and Resources Audit in accordance with the PRMS system for an offshore license block in Nigeria. Established reserves, contingent and prospective resources through analysing seismic and well data. Work included verication of seismic interpretation and a probabalistic assessment of reserves. The audit formed the basis for the Client's unitisation discussions with the operator of an adjacent block. The Client also used the report as part of his initial finance raising program.
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| Reserves/FDP - Baltic Sea |
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| Implemented an assessment for a field in the Baltic Sea. Prepared seismic interpretation, geological model and reservoir model. Developed reserves assessment in line with the Petroleum Resource Management System (PRMS). Went on to put together a conceptual Plan for Development of the Field. Carried out an economic assessment on the field as part of an options screening and valuation process.
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| Field Evaluation - Tunisia |
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| Carried out an independent reserves assessment for a client looking to farm-in to a license offshore Tunisia. Carried out a probabilistic reserves assessment to SPE guidelines. Also carried out a full Field Development Plan validation; assessed plan was technically feasible, that costs met industry norms and that the economic assessment was valid.
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| Reserves and FDP Assessment - Nigeria |
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| Carried out a reserves assessment on an onshore Nigeria gas field to SPE standards; established 1P and 2P reserves. Went on to develop conceptual field development plan for the reserves as part of a gas utilisation project. Developed a full cost and economic assessment for the development program.
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| Project Financing - Russia |
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| Provided technical support to a Bank assessing the risks associated with making a loan to a company developing a gas condensate field in the Volga Region of Russia. Performed an Independent reserves determination as the basis for establishing the technical risks associated with the investment. Reviewed and critiqued: reserves report, information memoranda, Competent Person Reports and other information forming the technical basis for the loan.
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| Project Financing - Kurdistan |
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| Identified companies active in Kurdistan for a Group offering finance for E&P operations on the newly established licencing areas and under agreements established by the Kurdistan Regional Government. Went on to perform technical due dilligence on agreed financings; this consisted of independent reserves assements, field development planning reviews and independent budget and cost assessments. Also performed economic analysis and technical and economic risk assessment.
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| Competent Person Report - Central Africa Licenses |
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| Contracted to develop a Competent Person Report for a number of licenses located in Central Africa. The report was developed to AIM format and formed part of an acquisition process conducted by a Johanesburg Stock Exchange listed company. A full geophysical and geological assessment was conducted along with a valuation of the licenses based on the agreed commercial terms.
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| Seismic Assessment - Offshore Ghana |
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| Contracted to conduct an assessment of seismic data available for a large offshore block. Assessed all available data, selected and supervised the reprocessing of key lines. Carried out new interpretation of reprocessed lines and other available data. Carried out review a prospectivity review of the license and assessed potential reserves.
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| License Valuation - Albertine Basin |
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Contracted to conduct an evaluaton of the potential reserves for a license area within the Congo's section of the Albertine Basin. Conducted the evaluation based on a regional geological assessment. Developed a valuation of the property. Went on to assist the client in establishing a Production Sharing Agreement for the license area with the host government.
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| Equity Farm-out - Offshore Ghana |
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| Contracted to farm-out part of the equity in a highly prospective block in Ghana. Performed a pre-sale evaluation on the block including a reserves evaluation and a valuation based on the Petroleum Agreement terms. Went on to prepare and run the technical data room, receive and analyse bids and to assist in negotiations with selected bidders. The Farm-out was successful concluded in March 2009, our client and the Farminee or now proceeding to carry out the work program for the block - for futher information contact us.
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| License Valuation - Kazakhstan |
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Contracted to conduct an evaluaton of fields and prospects for a license area within Kazakhstan for an investor condsidering farm-in options. Evaluated reserves potential within the block and the robustness of the owner's exploration, appraisal and development program. Provided an Independent Valuation of the the potential opportunity. Went on to conduct a full geophysical evaluation of the pre-salt strata associated with the property couple with an assessment of potential reserves.
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| Equity Farm-out Nigeria |
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Mandated to farm-out equity in an offshore license in Nigeria's shallow water Niger Delta. Prior to marketing the license conducted an appraisal of available seismic and well data to establish prospectivity of the license block. Prospectivity assessment included conducting a seimic interpretation and a geological assessment based on available data. The assessment of reserves potential assessment was conducted on a probabalistic basis.
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| Upgrade of Independent Reserves Assessment Giant Carbonate Field |
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Contracted to upgrade an earlier completed independent reserves assessment based on newly acquired seismic and well data. The project included interpreting the 3D seismic dataset, upgrading a static geological model and a reservoir model. The key achievement was the confirmation of additional reserve potential in the main structure.
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| Field Development Plan - Sour Gas Fields |
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Developed a Field Development Plan for two large sour gas fields (30% Hydrogen Sulphide and 10% Carbon Dioxide)as part of a license bid submission. The plan utilised all aspects of Bayphase's INTEGRATED team approach and include seismic interpretation and mapping, geological model development,reservoir modelling, facilities and process engineering assessments, cost estimating and finally economic assessment. Work included a full reassessment of reserves both on a probabalistic and deterministic basis
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| Independent Reserves Assessment Large Offshore Field |
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Engaged to conduct a full field independent reserves assessment of a large offshore oil field formed of multiple sandstone reservoirs. The project was designed to check assessments made by international oil companies involved in its development. The project included interpreting the 3D seismic dataset, building a static geological model, developing probabalistic and deterministic assessments of oil in-place and developing outline field development plans.
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| Equity Sale - Onshore License Area Block |
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| Mandated to conduct a limited equity farm out for an onshore block in Nigeria. As part of the process conducted a full technical evaluation of the property, conducted a license valuation and carried out planning for an in-fill seismic data gathering project. The farm out was successfully completed in January 2008 - for further information Contact Us.
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| Independent License Area Evaluation |
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Carried out 2D interpretation of a large onshore block in Romania. The focus was the identification of shallow, relative small gas deposits. The work included prospect mapping and identification, development of independent reserves assessment and risk analysis. Also recommended targets for the exploration drilling program.
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| Prospect Assessment Offshore License |
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Contracted to complete an independent reserves assessment of 10 major prospects in an offshore license area amounting to 6 Billion bbls of reserves. The project included interpreting the 3D seismic dataset, developing static geological models, reservoir models and field development plans that formed the basis for valuation.
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| License Dispute - Russia |
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Developed a Petroleum Expert Witness report and acted as an expert witness during arbitration proceeding with respect to a disputed unitisation claim affecting two adjacent licenses onshore western Siberia. The transaction occurred some 8 years ago. Required to make a retrospective assessment of reserves as the basis for testing the compensation claim of one of the parties to the dispute.
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| Independent Reserves Assessment Giant Carbonate Field |
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| Completed a full field reserves assessment for a giant crabonate field. This provided an independent check of assessments conducted by international oil companies resonsible for its development. The project included interpreting the 3D seismic dataset, building a static geological model, a dynamic reservoir model, developing probabalistic and deterministic reserves assessments. The results were used as the basis for determining production bonus.
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| Independent Reserves Assessment - Heavy Oil Prospect |
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Developed a reserves assessment, based on 2D seismic data and regional field data for a potentially 22-26ºAPI offshore, shallow water prospect. Also carried out a field development planning assessment that included establishing cost for all phases exploitation of the potential field including exploration, appraisal, development, operations and abandonment.
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| Licensing Seminar - National Oil Company |
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Developed and presented a seminar on prospect evaluation, lcensing and local industry involvement for a West African NOC. The seminar was designed to show the companies personnel how geophysical analysis and prospect evaluation could be used to assist in the licensing process. A key feature of the seminar was the development of strategies to engage local oil companies and oil industry supplies in the license exploitation process to allow the country to benefit as much as possible from oil industry activities conducted on its soil.
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| Privatisation - National Oil Company |
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Conducted a reserves assessment and prepared the upstream technical input for bid related to the privatisation of the gas assests a European national oil company. Conducted geophysical, geological and reservoir engineering assessments of the bid data and carried out site investigations. The asset base consisted of a number of aged fields that required significant rehabilitation.
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| Reserves Evaluation Dawes Island |
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| Conducted a technical reserves evaluation on this field which was due to be licensed as part of Nigeria's marginal field round. Analysed available 2D seismic and well data to develop a deterministic reserves estimate. Also generated outline field development plan and valued the field. Went on to submit formal bid to receive the license to the the Nigerian government on behalf of the client.
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| Seismic Interpretation - Liberia |
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| Implemented an interpretation of a Regional 2D seismic survey offshore Liberia to determine prospectivity. Identified prospects and conducted a reserves assessment and exploration risking for this deep water area. The product of the work was used as part of a submission seeking finance for an exploration program.
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