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Consulting
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Geology
We undertake a wide variety of geological assessments including basin studies, geological assessment of prospects and fields. Most of our geological assessment work is carried out to support reserves assessments and field development planning. Typically this involves analysis of well and other geological data to build a geological model of the field under review. The end product of much of our geological work is the development of assessments of hydrocarbon in-place; these can be done on a deterministic or probabalistic basis. We have particularily strong experience in the assessment of giant fields both in the Middle East and the Former Soviet Union. Our geological group also conduct petrophysical analysis of well logs, the results of which are incorporated into our geological assessments and models.

Technology
Our primary tool for geological analysis is the Roxar's IRAP-RMS modelling suite. Typically this is used to produce static geological model of the field under review which is then exported to our reservoir engineering group for use as the basis of the reserves assessment. Assessments are conducted on Dell Precision Workstations and printing support is provided through HP large format full colour printers. Our personnel also have experience of using Petrel software for geological modelling and this can be used if it is a client preference. .

Project Experience
The projects below required geology input.

Competent Person Report - Central Africa Licenses

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.

Seismic Assessment - Offshore Ghana

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.

License Assessment - Kurdistan

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.

License Valuation - Albertine Basin

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.

Equity Farm-out - Offshore Ghana

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.

License Valuation - Kazakhstan

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.

Due Diligence Offshore West Africa

Conducted technical due diligence for a bank, which as part of a consortium, was providing finance to an operator developing a small offshore oil field. Issues covered included: minimum recoverable reserves verification,schedule risk, technical risk associated with the production system - wells and FPSO.

Equity Farm-out Nigeria

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.

Offshore West Africa Independent Assessment

Conducted an INDEPENDENT assessment of a report used as the basis for receiving bank finance for development of a shallow water offshore field in west Africa. Critiqued the technical and cost statements in the report and developed a reserves assessment to Society of Petroleum Engineers standards based on available data.

Zelten/Nasser Field Evaluation

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.

Upgrade of Independent Reserves Assessment Giant Carbonate Field

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.

Field Development Plan - Sour Gas Fields

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

Independent Reserves Assessment Large Offshore Field

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.

Gas Condensate Field Reserves Assessment and Valuation

Reviewed the available data for two gas condensate fields and developed an independent reserves assessment and asset valuation for a client interested in purchasing the property. Work included working with Soviet data and conducting geological, reservoir engineering and economic assessments

Reserves and Prospect Assessment - Iraq

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.

Equity Sale - Onshore License Area Block

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.

Prospect Assessment Offshore License

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.

Independent Reserves Assessment Giant Carbonate Field

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.

Independent Reserves Assessment - Heavy Oil Prospect

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.

Onshore Azerbaijan Field Dispute.

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.

Acquisition Support FSU

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.

Entry Strategy - Algeria

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.

Petroleum Expert Witness Report - Heavy Oil Field

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.

Privatisation - Regional Oil Company

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.

Field Development Plan Gas Condensate Field

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.

Privatisation - National Oil Company

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.

Reserves Evaluation Dawes Island

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.



Bayphase Limited, St Georges House, Knoll Road, Camberley, Surrey, GU15 3SY, UK
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Oil & Gas Consultants - Prospect Evaluation - Geological Assessments - Strategic Reports - Geology