| Deepwater Development
BP and BHP collaborating in the Deepwater Gulf of Mexico recently
stated that they saved 30% of the time it took for them to do similar
evaluations in the past using other tools. They are using PetroVR to
better model and understand their options with regard to development
of one of their recent discoveries. Each consortium member has the same
PlanVR model, but uses different EconVR models to include company specific
guidelines. The teams also provide PetroVR outputs for their
long range plans. Enterprise Model
BP Trinidad has created a business unit enterprise model using
PetroVR. This business unit is market driven with gas as the
primary product and requires just-in-time exploration and
development in order to meet market demands. PetroVR is used to
model both the demand and supply side of the equation. This enabled
the company to decrease costs, mitigate risks, decrease uncertainty
and increase total production due to optimization.
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