The IP Suite of tools is developed to improve important parts of the work processes within Upstream Enterprise Risk and Enterprise Performance Management. We focus on integrated decision support with full stochastic uncertainty/risk handling for major asset investment projects and resource management to forecast the development of reserves and resources on all corporate assets.
The IP Suite consists of two main modules: IPRISK for Field development and Well planning and IPRESOURCE for Resource management, reporting and Forecasting.
IPRISK promotes better and faster decision-making for key investment projects as well as reliable production prognosis and serves as a communication platform between the technical disciplines and management. To manage the complexity of the projects IPRES is recommending interactive decision trees and integrated simulation models, where all input is structured consistently with an overview of the main asset development options for most types of projects in the Upstream Value Chain.
Field/Asset Development Planning
- • Green fields
o Prospect valuation screening for exploration and appraisal drilling
o Concept selection on new discoveries
- • Brown fields
o Redevelopment of existing fields including IOR/EOR
- • Area development
o Combinations of Greenfield and Brownfield evaluations
- • Value of new technology along the Upstream Value Chain
o Technology with impact on production, DRILLEX, CAPEX, OPEX, Scheduling of projects
The Well module is a fully integrated valuation tool for all type of single wells and campaigns. It ensures corporate consistency by standarised input, results and reporting with full stochastic handling of all parameters (Drilling, Reservoir/ Production, Cost, Scheduling including planned and unplanned events). This gives an overview of all technical and economic uncertainties/risks impacting the cost and total value of the well and makes it possible to optimise the economics by comparing options of single wells and campaigns including aggregation of portfolios.
- Exploration and appraisal
- Production wells
- Injection wells
- Single branch wells
- Multi branch wells
- Well campaigns
IPRESOURCE is designed to store and retrieve current as well as historical data on production, reserves, contingent resources, prospective resources, CAPEX and OPEX on all assets in a corporate portfolio also including all planned investment projects as basis for long term forecasting. IPRESOURCE has two main modules, a database and reporting module, and an analytical forecast module for advanced production forecasting of reserves and resources.
IPRESOURCE follows international audit standards.
Resource reporting and forecasting
- • Corporate database and reporting system in compliance to SEC, SPE – PRMS
o Volumes, CAPEX and OPEX
o Standard Reserves and resource reporting compliant to global industry
o Easy to tailor make Internal and external reporting to financial and governmental bodies according to corporate management specifications
- • Monitoring of corporate project portfolio wrt reserve and resource developments
- • Quality control of data input and results
- • Stochastic forecasting analysis tool for business planning and reporting