IPRESOURCE – Resource Management, Reporting
IPRESOURCE is specifically designed to meet the reserves and resource management, reporting and forecasting needs required by oil and gas companies. IPRESOURCE Resource Management, reporting is built around a relational database enabling users to store and retrieve current as well as historical data on production, reserves, contingent reserves and prospective resources. Our reporting system is an integrated part of our relational database application, but can also be customized to fit with existing databases such as the Schlumberger Volts
- IPRESOURCE Resource Managment, Reporting
- Corporate Reserves –Resources management system in compliance to SEC, SPE – PRMS. Volumes, CAPEX,OPEX
- Corporate reserves and resource reporting; internally and externally to financial and governmental bodies
- Monitoring of corporate project portfolio with respect to reserve developments
- Quality control of data input and results
- Flexible system easy to adapt
- To customer business processes
- To international audit standards and QA requirements
- To internal and external reporting
- Easy to use
- Intuitive application for input supported by online help system
- Single cource of data, tracking of changes and consistency
- Profesional support at all levels
- Global support in cooperation with Hamilton Group
- Effective implemetation and IT administration
- Standard MS SQL Server database and BO reporting system
- Competitive life cycle cost
IPRESOURCE – Forecasting
High quality production forecasts encompassing the full range of inherent uncertainties are a requisite for a wide range of business practices in E&P companies. Production forecasting is crucial to many processes in the annual business planning cycle, for portfolio optimisation purposes and in field and asset area development planning. Failing to produce high quality production forecasts can have serious effects on profits, stock value and investment confidence.
- Challenges in Production Forecasting
- Production forecasting involves aggregation of uncertain elements at various levels: wells, fields, business units, countries and up to corporate level
- Forecasts will include combinations of assets ranging from producing reserves with large amount of data (and high confidence) to recent discoveries and even undrilled prospects with very limited data (and low confidence).
- There is also an increasing demand for forecasting production on assets where secondary or tertiary recovery techniques (EOR) are being used or on unconventionals.
- Production forecasts do not only need to include subsurface uncertainty. Attention must also be given to other sources of uncertainty such as:
- Facility constraints
- Various types of scheduled and un-scheduled deferments (e.g. downtime).
- Commercial arrangements, environmental and political risks should also be considered.
- IPRESOURCE Forecast
- Stochastic forecasting tool for business planning, reporting
- Management and full risk assessment of project scheduling
- Oil ,gas, water production forecasting at well, field and corporate levels with full risk evaluation