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Russia FSU |
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Here are examples of some of the projects we have implemented across Russia and the rest of the Former Soviet Union(FSU). A key feature of our team is that it includes native Russian speakers and others fully familiar with reading technical Russian oil field documents associated with reserves and fielddevelopment planning.
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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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| 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 Determination Seminar |
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Developed and implemented a Reserves Determination Seminar for a Major FSU State Owned Company. Covered all aspects of the approach adopted in the West to determine reserves for asset based financing. Subjects covered included Society of Petroleum Engineers Standards, Monte Carlo analysis and the range of techniques used to determine the value of reserves for financial purposes including discounted cash flow and market valuation.
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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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| Heavy Oil Field Assessment - Kazakhstan |
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Carried out an assessment for a potential investor of a large heavy oil field in Kazakhstan. Reviewed the production system and technology current applied to assess its efficiency comnpared to comparable international projects. Advised on the production and reserves gains that might be acheived through the application of new heavy oil technology including Steam Assisted Gravity Drainage,Cyclic Steam Stimulation and Vapour Extraction
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| Project Financing Western Siberia |
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Provided technical support to a Bank assessing the risks associated with making a loan to a company developing an oil and gas field in Western Siberia. Reviewed reserves determinations, production data, development schedule and the risks associated with each of these to establish the Banking Case. Effectively a conservative view of the reserves associated with the field against which the loan could be collaterised.
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| Investment Overview - Kazakhstan |
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Prepared an overview of the current oil and gas investment climate in Kazakhstan for a City investment house. Overview covered investment criteria for oil and gas propreties including allowed reserves, discount rates and data on recently executed deals in the country.
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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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| 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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| 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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| 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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| Onshore Azerbaijan Field Dispute. |
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Developed a petroleum expert witness report with respect to a dispute over two medium sized onshore oil fields, developed in soviet times but taken over by western investors. The report included an independent assessment of reserves, production profile and levels of investment required to develop the fields to their full potential. The assessment was based on a detailed review of production and other data gathered in Soviet times up to the present day.
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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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| Production Failure Investigation |
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Conducted a detailed investigation in to a number of failures that impacted production from a significant producing field. Developed a petoleum expert witness report on the failures establishing the technical reasons for the fasilures. Established an assessment of costs and production losses that was used to establish the basis for a compensation claim. Prepared technical portion of a statement of claim for an arbitration.
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| Petroleum Expert Witness Report - Heavy Oil Field |
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Developed a petroleum expert witness report for an onshore heavy oil field. The report assessed reserves, likely production rates and surface facilities required for this shallow depth development. A notable feature of the work was a cosideration of the need to deploy steam injection to produce the field to achieve resonable recoveries. The assessment was used by the expert witness for the defence under a claim pursued under UNCITRAL rules at the Arbitration Institute of the Stockholm Chamber of Commerce.
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| Privatisation - Regional Oil Company |
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Acted as technical and commerial advisor during the sale of 30% of a regional oil company in the Former Soviet Union. The units asset base included 1.25 billion barrels of proven reserves, upstream production plant, a refinery and oil transporation networks. Prepared sales documentation for the asset, sought out buyers and ultimately arranged disposal of the equity.
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| Field Development Plan Gas Condensate Field |
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Developed a deterministic reserves assessment and field development plan for a large gas condensate field. The assessment included developing a subsurface and surface facilities plan from a series of complex reservoirs. Made an evaluation of appraisal, development and operating expenditures for economic assessment.
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