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Licensing & Prospect Evaluation |
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Our involvement in licensing and prospect evaluation has followed two paths:
- We have suppport Government bodies responsible for licensing acreage and who are interested to understand the overall prospectivity of the area they intend to license in order to set appropriate fiscal terms.
- We have also done an extensive number of projects for investors - primarily oil companies - interested in acquiring licenses and clearly wishing to understand prospectivity and investment potential of a given license from a buyer's perspective.
Our work in this area has ranged for screening level assessments to extensive INTEGRATED assessments of license areas involving all of our disciplines: geophysics, geology, reservoir engineering, facilities engineering and economics. Below are details of some of the consulting work carried out in this area:
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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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| Worldwide Mega-project Analysis |
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| Carried an analysis of international Oil and Gas Mega-projects for a National Oil Company. The work sought to establish how government bodies particularly national oil companies interacted with international oil companies carrying out very large projects in their countries. The work focused on establishing:
• How government bodies organised themselves with respect to such projects
• The procedures and strategies adopted by government entities in controlling such projects
• The relative performance of such projects in various area around the world.
The work focused on four geographic regions: Western Europe, Middle East, South America and South East Asia
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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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| Project Financing - Libya |
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| Identified companies active in Libya for a Group offering finance for E&P operations in that country. Went on to carry out independent reserves assements on selected licenses, field development planning reviews and independent budget and cost assessments. Also performed economic analysis and technical and economic risk assessment.
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| FDP Study - Oman |
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| Carried out a Field Development Planning study for a prospective field offshore Oman;in a 1000m water depth. Considered a range of options for the prospect including oil and and non-associated gas developments. The work including establishing viable options for each option and fully costing all associated operations including: exploration, appraisal, development, production and abandonment. Developed the formal submission for the government of Oman. local government
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| Field Development Study Deep Water |
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| Carried out a deep water field study for license area in the Middle East. The exploration prognosis was that outcomes could range from small to medium sized oil fields through to medium sized non-associated gas fields. Developed range of potential reserves and then established viable field development plans for each reserve size. Prospects were sited close to shore in 3,000m water depth; fully costed each development plan using Bayphase's cost estimating tool - NetCo$ter.
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| Oil Agreement Support Indian Ocean |
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| Provided economics support to a small independent negotiating an offshore licensing agreement with a state in the Indian Ocean. Modelled the oil agreement commercial terms and tested a range of scenarios and potential terms whilst providing support during oil agreement finalisation and negotiation.
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| Deep Water Gas Project West Africa |
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| Carried out pre-conceptual field development planning for a significant potential gas field offshore West Africa in water depths of 1000m. Developed a feasible concept for exploitation of the field and fully costed it for economic evaluations purposes.
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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 Assessment - Kurdistan |
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| Conducted a reserves assessment on two recently awarded blocks in Kurdistan. Assessed the potential recoverable reserves associated with each property. Utilised our extensive data base of information on Iraq which is encapsulated in our Iraq Hydrocarbon Potential Report.
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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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| Deep Water Offshore West Africa |
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Carried out a prospect evaluation for a number of prospects in water depths ranging from 500 through 1,500m offshore West Africa. The work focussed on establishing viable and cost effective development solutions for these unusually deep water prospects.
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| Zelten/Nasser Field Evaluation |
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Conducted an assessment designed assess the reserves associated with a potential redevelopment of this field in Libya. Scope included developing a full field description, a deterministic reserves assessment and a cost estimate for redevelopment of the field.
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| Reserves and Prospect Assessment - Iraq |
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Developed an inventory of all know fields and prospects in Iraq. For know fields assessed current reserves and their potential upside through additional exploration whether they were currently producing or not. Conducted the work on a basin by basin basis assessing the Mesopotamian, Zagros Fold Belt and Western Desert area individually. Also conducted assessments of existing infrastructure and field facilities. Provided the client with a prospectivity assessment tailored to his requirements that allowed him to develop a country entry and exploration strategy.
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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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| 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 22-26šAPI 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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| Acquisition Support FSU |
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Provided support to an operator interested in making acquisitions in the FSU the work included conducting basin studies, identification and assessment of prospective targets. Assessments generally included generating of reserves assessments and outline development plans in order to test the economic viability of a given acquisition target.
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| Entry Strategy - Algeria |
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Developed an entry strategy for a new entrant based on the company's extensive knowledge of Algeria its producing fields and prospective license areas. The strategy focused on gas and developed a strategy to access concessions with reserves potential of at least 3 TSCF.
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| Offshore Sour Oil Field - Libya |
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Developed a preliminary field assessment for an offshore prospect in Libya. The accummulation was thought to potentailly contain around 70 million bbls of oil but was potentially sour - upto 2% hydrogen sulphide. The assessment considered a number of methods to develop the field focussing particularly on the possible means of handling the highly sour associated gas which was expected to be produced. A number of capital and operating cost estimates and schedules were developed to assess the economic attractiveness of the opportunity.
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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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| Outline Field Development - Onshore Angola |
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Developed an outline field development plan for a prospective onshore oil accummulation in southern Angola, in assumed swamp conditions. The assessment considered production methods appropriate for this remote site and for a recoverable reserve of between 25 and 45 million bbls. The scheme also considered exploration abd appraisal drilling options for the prospet. A capital and operating cost estimate and schedule was developed which was used to assess the economic attractiveness of the opportunity.
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| Market Assessment - Algeria |
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Conducted an assessment of all know major oil and gas developments in Algeria designed to assess the investment value associated with each and the timing of the associated expenditure. The work was conducted for a government body charged with assessing international markets for its oil and gas manufacturing and services sector.
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| Generic Study - UKCS Gas |
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Conducted a generic study designed to establish economic minimum recoverable reserves for stand-alone and tie-back developments in the Southern basin of the UKCS. The study considered a range of gas reserves from 10bscf through to 150bscf. It also considered a range of production methods including subsea wells and tie-backs, not-normally manned platforms and a range of full production facilities including comprssion for later life exploitation.
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| Type IV Cost Estimate - Ultra Deep Offshore Prospect |
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Developed a Type IV cost estimate for an ultra deep water oil prospect offshore Sierra Leone.he assessment considered production methods appropriate for this remote and ultradeep water site - 1,800m - and for a recoverable reserve of between 250 and 750 million bbls. The scheme also considered exploration abd appraisal drilling options for the prospet. A capital and operating cost estimate and schedule was developed which was used to assess the economic attractiveness of the opportunity.
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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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