Reserves Verification - North Sea Gas Field

We carried out a verification assessment on a reserves report used partly as the basis funding development of a North Sea non-associated gas in the UKCS. We implemented a material balance analysis on available data to verify 1P and 2P reserves. We reviewed key production risks especially the potential for water break through and the ability of production equipment to handle it.
We went on to develop a revised development plan for the field designed to access untapped resources.  We assessed the increase in 1P and 2P reserves that would result from development and fully costed the additional drilling and production equipment required. We conducted a risk assessment on the revised plan and established the Chance of Success. 

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