Oil and Gas ConsultancyOil and Gas Consultancy
Our involvement in licensing and prospect evaluation has followed two paths:
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:
The projects below have required deployment of Licensing and Prospect Evaluation skill set
Carried out re-interpretation of vintage seismic data to provide the Client with an independent assessment of the block. Re-mapped a number of reflectors. Confirmed the presence and size of an untested prospect at Top Nubia level. Calculated oil in place, recoverable reserves (min, most likely and max) for the discovery in the block. Also evaluated the Chance of Success for the prospect. Completed the work by identifying a preferred drilling location to test the Top Nubia and designed a well prognosis for the location.
Carried out a prospectivity assessment on the 12 license areas offered by the Government of Iraq - Iraq Central Authorities - in its 4th Licensing Round. The assessment was geoscience and geology based and was designed to establish the prospective resources associated with each block along with the likely characteristics of the hydrocarbons likely to be found.
This assessment was based on Bayphase’s extensive experience conducting studies in country and its commercially available library of Iraq seismic, well and other data; see the Iraq Kingdom Project for details on this. The study also had access to the majority of the commercially available geological data on Iraq.
The study produced a full inventory of prospective resources by license, an assessment of chance of success and a ranking of risked resource designed to guide decision making processes associated with bidding for acreage in the 4th licensing round.
Developed independent resource assessments for two offshore license areas in Ghana. Reviewed reports, converted paper seismic, well log and test data to digital format, loaded the data into the Kingdom Suite and developed structural interpretations, to assess the blocks’ prospectivity, resources and reserves. Estimated the Chance of Success. The assessment was conducted in accordance the standards set down by the PRMS.
Developed an ITER for a Johannesburg Stock Exchange transaction associated with an onshore exploration block in the Democratic Republic of Congo in accordance with guidelines set down by the Exchange. The report set out the prospective resources for the block and was used by the Client as a part of his submission to gain shareholder approval for a farm-in by a Major Oil Company. The Report can be viewed through clicking this link: JSE Circular.
The work also included a re-valuation of the block following the farm in based on discounted cashflow, market and cost methods.
Carried out an opportunity screening for a number of global exploration assets considered for investment by the company. A quick look assessment of the prospectivity of each asset was conducted. The assets where then ranked by their chance of success and likely resultant reserves should exploration be successful.
The top four assets where then ranked in detail: seismic assessments were conducted using the Kingdom Suite; exploration plans were drawn up; chance of success was assessed; likely resultant reserves were determined; cost of exploration, appraisal, development, operation and abandoning the reserves was assessed and an economic ranking of the assets was developed.
Recommendations for the future exploration program were developed for each asset were developed.
Developed an independent reserves assessment for four newly discovered fields in this ultra deep water license area in Nigeria in conformance with the PRMS standard. Carried out full seismic interpretation, prepared a reservoir assessment and production profiles, developed outline field development plans and also conducted a full development and operating cost assessment using our NETCO$TER cost Evaluation Software.
The discoveries are located in ultra deep water depths and required the use of innovative productions solutions in the development scheme. Based on the commercial terms associated with the acreage and the technical and cost assessment described above developed an independent valuation of the discoveries.Also carried out a full prospectivity assessment of the acreage based on recently acquired 3D seismic data. The work was conducted as part of a farm-out process which is now complete. The Client disposed of a major portion of his 100% holding in the Block.
Carried out a prospectivity study on Iraq Sedimentary Basins: Zagros Fold Belt, Mesopotamian and Western and Southwestern Deserts. The study was designed to assess potential upsides in existing field through assessing oil potential in non-drilled reservoir bearing horizons and potential field extensions. The study also assess prospective structures in each basin based on scouting information, third party regional interpretations and contour maps developed by Bayphase.
Used Boston square analysis the rank the fields and prospects against a range of parameters. The analysis was used by the Client as part of his decision making process in developing an engagement strategy for Iraq. 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.
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
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.
Carried out a study to establish to optimum field development plan for a number of prospect outcomes in this deep water license bock – offshore Oman. Reviewed both oil and non-associated gas potential outcomes, developed outline Field Development Plans and carried out economic assessments to determine the optimum configuration.
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.
Developed the formal submission to the government of Oman.
Carried out an assessment of each of Libya’s Sedimentary Basins to establish hydrocarbon reserves and resource inventories for all fields and identified prospects in these basins. The study was based on data collected from producing fields, regional seismic assessments, and regional geological studies.
The basins covered by the study included: Sirte, Ghadames, Murzuk, Offshore/Tripolitania, Cyrenica, Kufra.
Carried out an assessment of each of Iraq’s Sedimentary Basins to establish hydrocarbon reserves and resource inventories for all fields and identified prospects in these basins. The study was based on data collected from producing fields, regional seismic assessments, and regional geological studies.
The basins covered by the study included:
Developed independent deterministic and probabilistic reserves assessments for these prospects in accordance with the PRMS standard. These prospects are significant clastic structures in Kazakhstan sector of the Caspian Sea.Developed fully integrated geological and reservoir simulation models for the prospects – 6 in total. The work included full assessment and interpretation of an extensive 3D seismic data set shot over a license area , development of a static geological model and a dynamic reservoir model. Carried our modelling to determine optimum production configuration for the prospects through consideration of water injection and gas injection schemes. Also carried out conceptual field development planning to determine the associated surface production scheme.
Prepared resource certification statements in accordance the PRMS standard and in accordance with regulations set down by Kazakhstan’s State Reserves Committee.
Around 4 years after our first assessment on this giant onshore carbonate field in Kazakhstan and following the implementation of further exploration activities including shooting of an extensive 3D data set and drilling of Deep wells carried out an independent deterministic and probabilistic reserves redetermination.Developed a fully integrated geological and reservoir simulation model for the field. The work included full assessment and interpretation of a 3D seismic data set, development of a static geological model and a dynamic reservoir model. Carried out modelling to determine optimum configuration for a gas re-injection scheme. Also carried out conceptual field development planning to determine the associated surface production scheme.
Special features considered included: fracture modelling and prediction to determine potential contribution to reserves; interpretation of well logs from deep well drilling to the basement of the field.Prepared reserves certification statements in accordance the PRMS standard and in accordance with regulations set down by Kazakhstan’s State Reserves Committee.
Contracted to conduct an assessment of seismic data available for this large offshore block in Ghana. Assessed all available data, selected and supervised the reprocessing of key lines. Generated play concepts through basin studies. Identified prospects and leads through seismic interpretation and developed independent probabilistic resource assessment in accordance with the PRMS standard. Also carried out a valuation of the block for potential equity sale by the Client.
Carried out an assessment of each of Algeria’s Sedimentary Basins to establish hydrocarbon reserves and resource inventories for all fields and identified prospects in these basins. The study was based on data collected from producing fields, regional seismic assessments, and regional geological studies.
The basins covered by the study included:
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.
Carried out a seismic interpretation and developed an exploration plan for low lying gas prospects in this licence area in Romania. Also developed independent probabilistic resource assessment in accordance with the PRMS standard.
Carried out a survey and researched all licenses in Kurdistan. The purpose of the work was to establish companies active in the region, the prospectivity of their license areas, the license work commitments and their likely funding requirement over a two year time frame.The assessment was used to target small participant companies with acreage likely to be successfully explored and likely to require funding to meet their investment needs. Assisted the Client in making approaches to offer finance for equity to target companies ranked by this process.
Carried out an assessment of each of Kazakhstan’s Sedimentary Basins to establish hydrocarbon reserves and resource inventories for all fields and identified prospects in these basins. The study was based on data collected from producing fields, regional seismic assessments, and regional geological studies.
The basins covered by the study included: Pre-Caspian, Ust-Urt, Mangyshlak, Turgai, Chu-Sarysu, Syr-Darya, Balkhash, Alakol, Eilliski, Teniz, Zaisan
Provided economic support to the Client during negotiation of participation in offshore exploration blocks with the Seychelles Government. Evaluated a number of prospective fields and developed cost estimates for their exploration, appraisal, development, operation and abandonment. Tested a range of commercial terms to establish terms optimum for the Client. Assisted the Client during the negotiation process in reaching mutually acceptable commercial terms with the Government
Carried out a prospectivity assessment of the Cuvette Central basin for the Government of the Congo. Assisted them in defining the most appropriate licensing areas for this area. Developed the official licensing map through fully defining in geographical terms the perimeter associated with each block.
Developed prospects and leads through seismic interpretation, followed by an independent probabilistic resource assessments for two Licence Areas in Liberia in accordance with the PRMS standard. The work was based on a Regional 2D seismic survey. The product of the work was used as part of a submission seeking finance for an exploration program.
Carried out a prospectivity assessment of the sedimentary basins underlying Lake Tanganyika for the Government of the Congo. Assisted them in defining the most appropriate licensing areas for this region. Developed the official licensing map through fully defining in geographical terms the perimeter associated with each block.
Carried out a screening study for a small potential onshore development in Angola. The potential field had a recoverable reserve of 50 Million Barrels and was located below a lake in an inaccessible, swampy terrain in the south of the country. The study took special care to establish appropriate solutions for the terrain encountered and the remote location. The study was designed to assess the economic benefit associated with conducting an exploration program. Development and operating cost estimates were generated using our NETCO$TER cost Evaluation Software.
Carried out a screening study for an exploration license in a deep water section of Tonga’s territorial waters. A range of potential prospective oil field sizes were evaluated ranging from 30-150 million barrels recoverable. A database of onshore well logs was used to develop potential properties for the offshore prospects. The study’s key objective was to establish if economic solutions could be established for development of these relatively small prospective fields. In addition detailed planning and cost assessments were carried out on the planned exploration drilling. Exploration, appraisal, development and operating cost estimates were generated using our NETCO$TER cost Evaluation Software.
Carried out a screening study for an exploration license in a deep water section of Senegal’s territorial waters. A range of potential prospective oil field sizes were evaluated ranging from 50-500 million barrels recoverable. The study’s key objective was to establish if economic solutions could be established for development of the relatively small prospective fields at the lower end of the scale. In addition detailed planning and cost assessments were carried out on the planned exploration drilling. Exploration, appraisal, development and operating cost estimates were generated using our NETCO$TER cost Evaluation Software.
Carried out a screening study for an exploration license in a deep water section of Cote D’Ivoire’s territorial waters. A range of potential prospective oil field sizes were evaluated ranging from 20-100 million barrels recoverable. The study’s key objective was to establish if economic solutions could be established for development of these relatively small prospective fields. The development solution focussed on the use of FPSO’s as the primary production vehicle. Exploration, appraisal, development and operating cost estimates were generated using our NETCO$TER Cost Evaluation Software.
Carried out a screening study for an exploration license in a deep water section of the territorial waters of the Bahamas. A range of potential prospective oil field sizes were evaluated ranging from 30-150 million barrels recoverable. The study’s key objective was to establish if economic solutions could be established for development of these relatively small prospective fields. In addition detailed planning and cost assessments were carried out on the planned exploration drilling based on shallow and deep water drilling rigs. Exploration, appraisal, development and operating cost estimates were generated using our NETCO$TER Cost Evaluation Software.
Carried out a screening study for an exploration license in an ultra deep water section of the territorial waters of Senegal. A range of potential prospective oil field sizes were evaluated ranging from 150-800 million barrels recoverable. The study’s key objective was to establish if economic solutions could be established for development of these prospective fields based on FPSO and subsea technology. Exploration, appraisal, development and operating cost estimates were generated using our NETCO$TER Cost Evaluation Software.
Bayphase
Limited, St Georges House, Knoll Road, Camberley, Surrey, GU15 3SY, UK
Tel: +44 (0) 1276 682828 - Fax: +44 (0) 1276 63334
Oil & Gas Consultants - Prospect Evaluation - Reserves Assessment - Oil and Gas Reports - Oil and Gas Costs - Field Development Planning