Improving The Exploration Process By Learning From The Past
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Improving the Exploration Process by Learning from the Past
Learning by experience is both a part of the daily life and the exploration life. A systematic review of the past is essential to improve the exploration process by better managing risks and uncertainties. Learning through different disciplines has become a favoured technique. With new tools for interpretation and simulation, integration and data and the creation of cross-discipline teams, we can take major step forward in understanding the exploration task and its different elements.Global views and lessons learned on the Norwegian Continental Shelf on risk management and retrospective prospect assessment are presented in this book. Detailed exploration case histories from the Norwegian Continental Shelf documenting both positive and negative experiences and highlighting the benefits of integrated thinking and methods are presented. The impact of the application of various state-of-the art and developing technologies on portfolio management, opportunity evaluation and volumetric and risk assessment of prospects and discoveries are reviewed, and the future technological challenges in exploring the remaining hydrocarbon potential of the Norwegian continental Shelf are summarised.
Cross Border Themes in Petroleum Geology I: The North Sea
A cross-border approach to exploration, appraisal and development is important in mature basins such as the North Sea, where the ‘low hanging fruit’ have long gone. This approach emphasizes the need to see the basin as one geological entity, in order to maximize economic recovery and prepare the area for the energy transition. This volume offers an up-to-date, ‘geology-without-borders’ view of the stratigraphy, sedimentology, tectonics and oil-and-gas exploration trends of the entire North Sea basin, along with the challenges associated with differences in data continuity and nomenclature across median lines. This volume includes overviews of cross-border play statistics, lithostratigraphic naming conventions and exploration performance through to new facies models for cross-border areas. As such, this volume will be a valuable reference for every geoscientist working in the North Sea for years to come.
Data Room Management for Mergers and Acquisitions in the Oil and Gas Industry
Data Room Management and Rapid Asset Evaluation - Theory and Case Studies in Oil and Gas, Volume 66 introduces frameworks and workflows that help streamline the data room process, highlight the essential data that must be assembled in the permitted time window, and accelerate the subsequent assessment of the opportunity. The book combines theory with case studies, some of which describe lessons learned directly by the author himself. Methodologies are presented that can be used immediately by those involved in the technical and commercial evaluation of oil and gas exploration and production ventures. The book is suitable for readers with a wide spectrum of experience, from those who are newcomers to the strange world of data rooms, to those diehards who may have spent too many hours in them. The purposes, strategies, and tactics of data rooms are explained, along with some suggestions on how to survive them, and how to get a fit-for-purpose evaluation in front of the decision makers in the shortest timeframe possible. - Demonstrates what makes a good data room, including how vendors attract potential buyers to attend and how the latter can decide whether they should go or not - Presents how to prepare for a data room, what needs to be done there, and how to evaluate the assets on offer as quickly as possible - Covers which essential data should be gathered and questions to ask - Suggests how to avoid common 'banana skins' when under pressure to provide a rapid but reasonable evaluation