Exploration and Production projects are often large and complex. Their maturation requires expertise from numerous professionals covering diverse petroleum technical and commercial disciplines. Discipline silos exist to some extent within large organizations and introduce a further degree of inefficiency in the maturation of E&P projects, which can lead to delays, incomplete evaluations and often to re-cycles.
It is not uncommon for each discipline to work in isolation, carrying out the necessary work from their own point of view, with the output of one discipline being the input for another. A large amount of recycle work can result when the final outcome is not meeting the requirements. This sequential approach leads to substantial delays and rework but can also reduce the range of options considered.
The PetroVR Solution
A key strength of PetroVR is the ability to integrate across many value chains and also to integrate among traditional E&P disciplines. This, in turn, makes PetroVR an excellent tool for collaboration and a catalyst for the breaking down of the traditional discipline silos so that teams actually come together to work. This benefit is multiplied in large unconventional projects where the value chains goes well beyond traditional E&P disciplines, such as power generation, manufacturing, and so on.
PetroVR modeling covers the full scope of an E&P project, from reservoir to sale point. This integrative modelling approach makes PetroVR a catalyst for integrated teams, covering all necessary technical and commercial disciplines, to work together with a single model requiring input from all and highlighting the impacts and interdependencies between these various areas and disciplines.
In Figure 2 below, a typical model layout is shown visually for all team members from all disciplines to view and audit as model assumptions change.
A typical example of this kind of interdependence between areas and disciplines is PetroVR production flow management, where modelled reservoirs feed processing facilities with fluids according to predefined declined curves, which can in turn be affected by parameters defined at the facility level, such as processing capacity or maximum number of connected wells. If such constraints cause wells to be scaled back or deferred, the reservoir production profile is modified. Variables in the model (e.g., oil price) can also be taken into account in decisions dynamically, at all levels (e.g., reservoir development, facility management).
Integrating these constraints and variables dynamically in PetroVR can be done quickly and easily. Changes are automatically documented within the normal workflow and numerous cycles of rework can be eliminated, leading to considerable time saving, and much improved quality and result assurance.
All capacities and constraints are integrated within a visually articulated model, which accelerates the evaluation by reducing time delays from unnecessary rework, and also because PetroVR visual model building is fast and intuitive. With more time available for the integrated team to review and consider more alternatives, leading to better understanding, more value capture and a higher quality evaluation.
Petroleum Ventures and Risk (PetroVR) decision assurance software was introduced 15 years ago in 1997 and is positioned to be the industry standard for petroleum exploration and production planning worldwide. It is the only fully-integrative software platform for E&P asset development planning that supports risk and uncertainty modeling for the entire opportunity lifecycle, from sub-surface to market.*
In addition to its selection by the U.S. Department of the Interior, Bureau of Ocean Energy Management (BOEM), formerly the MMS, PetroVR decision assurance software has been chosen by more than 25 oil and gas companies since 1997, including BHP Billiton, BP, Chevron, ENI, Maersk, Murphy Oil, Shell, Talisman and Total.
Read the PetroVR Blog at http://www.caesarsystems.com/blog/
PetroVR is a Registered Trademark of Caesar Systems, LLC.
About Caesar Systems
Headquartered in Houston, Caesar Systems empowers E&P companies to accelerate confidently to production through its PetroVR software suite, backed by global coaching support.
Caesar Systems is led by an experienced team of oil and gas and software professionals at offices located in Houston, Texas; Buenos Aires, Argentina; Paris, France; Copenhagen, Denmark; and London, United Kingdom.
Contact a Client Coach at +1 281.598.8800