This year’s Global Reserves Summit focuses on unconventional reserves reporting, thorough in-depth discussions on reserves estimation techniques and best practice on the evaluation and auditing of reserves. Come see our IPRESOURCE Manager, Tor Andersen, give a presentation on Addressing Uncertainty in Reservoir Simulation.

Visit the official website

·         customers like the products ‒ by giving references to Microsoft
·         our products meet Microsoft standards ‒ by passing certain Microsoft tests

Our development team attends frequent training to learn about new technologies and practices.
To read about Microsoft and their Partner Network you can visit www.microsoft.com

IO Science and Practice is the international meeting place that will bring you to the network and give you trends and opportunities for research and business in integrated operations. The conference attracts players from oil companies, suppliers, research laboratories and universities around the world. Intelligent petroleum fields and integrated operations are the most significant contributors to the next generation of petroleum field management.

Systems and service suppliers are presenting products and technology related to Integrated Operations in the Exhibition in the Conference mingling area. IPRES is one of the exhibitors in the Integrated Operations category. Stop by our booth to see our newest features and learn how our products can be of value to your company.

ACTE is once again held by the Society of Petroleum Engineers. This conference and exhibition attracts a many companies from more than 50 countries in the E&P industry. The conference features 400+ peer-selected technical papers covering current applications and future technologies and networking events. In addition, more than 300 companies are showcasing the latest technologies, new product launches, and valuable industry services.

We will be exhibiting at ATCE together with our cooperation partners Hamilton Group and Aker Solutions. Stop by our booth and learn how our integrated approach can benefit your company’s investments.

Visit ACTE official web site

Oracle is a worldwide software company with offices in more than 145 countries. Oracle offers an optimized and fully integrated stack of business hardware and software systems that help organizations overcome complexity and unleash innovation. A Gold Partnership includes benefits like access to Oracles Product Portfolio and allows our development team to tap into the vast pool of great Oracle products as well as relicensing of these products. To read more about Oracle, please visit www.oracle.com

IPRES is a software company headquartered in Oslo, Norway. IPRES develop advanced software and consult in the upstream petroleum Industry. They provide integrated decision support for major upstream investments through their software system, including IPRISK and IPRESOURCE. IPRISK promotes better and faster decision-making processes for key investment projects and serves as a communication platform between the technical disciplines and management. IPRESOURCE stores and retrieves current as well as historical data on production, reserves, contingent reserves, prospective resources, CAPEX and OPEX as well as reliable production prognosis following international audit standards. To read more, please visit www.ipres.com

For questions about this press release, please contact Linda Mæhre on info@ipres.com

Aker Solutions is a leading global oil services company that provides technology, engineering services, product solutions and field-life solutions for the oil and gas industry. Their services span from feasibility studies to execution of complex field development projects. Aker Solutions has approximately 18500 employees in more than 30 countries. The companies headquarter is at Fornebu, outside Oslo, Norway.

Aker Solutions offers field evaluation for the systematic comparison of field development cost, risk, and reward scenarios.

More information can be found on their website at www.akersolutions.com

IPRES has offices in Oslo and Trondheim, Norway as well as in London and Houston. It’s Integrated Petroleum Suite (IP Suite) is specifically designed to cover the entire upstream value chain and consist of two main modules: IPRISK® for field development and well planning, and IPRESOURCE® for resource management & reporting, and advanced stochastic production forecasting.

For more information about this press release, please contact our Administration Coordinator Linda Mæhre on info@ipres.com

Challenges:
• Production is on decline
• Need of better future production forecast
• When and where to develop discoveries
• When and where to drill prospects
• Where to search for new prospects
• Which infrastructure to keep or rebuild
• How to fill capacity of pipelines

To meet these challenges, different reservoirs are connected to projects to build up a project portfolio.

A project consists of phases, or PRMS resource classes, which are given estimated start and end dates. This will show how the project matures along the timeline through decision points and end up in the producing phase or resource class 1. In reports this is shown as charts based on the defined timeline, and how the volumes in development projects move along this timeline to monitor reserves replacement. To better visualize this in the reporting, forecast data are plotted along the timeline.

The release includes a completely new decision tree module, updated and additional fiscal regimes, new statistical libraries, compatibility with Crystal Ball API, as well as a number of smaller bug-fixes and improvements for enhanced user experience. This release is the start of a series of exciting releases planned for 2012 and 2013, which is part of what we in IPRES refer to as the “Next generation of IPRISK”. The aim is to transform the user experience of the classic IPRISK product and allow the user to combine the current technology with decision tree functionality, project explorer (database) and much more.

The new decision tree module is written in C# using the latest .Net framework and allows the user to:
• Frame the decision problem using drag-and-drop functionality to construct a decision tree
• Load IPRISK model files directly into the end nodes in the decision tree to model risks and uncertainties for each outcome
• Calculate optimum path based on the decision tree and loaded IPRISK model files
• Compare possible outcomes within the tree in cumulative probability plot style graphs and tables
• Modify the decision tree on the fly by copying, moving, adding, collapsing and expanding branches and sub-trees of the original tree
• Trigger and update the IPRISK models directly from the tree
• Export the decision tree, tables and plots to .PDF for management review and reporting

Contact tech-support@ipres.com for installation instructions and download of IPRISK v3.0.

Our Product Manager for IPRISK Well, Sverre Tresselt, will give a presentation at the Australian Oil and Gas Conference.

Integrated Decision Making Models in High Risk Environments: Case studies and what we have learned.

Future oil and gas projects will increasingly focus on more challenging and higher risk opportunities. Accurate assessment of the project risk is critical both for the project and for the company. The presentation will demonstrate not only how relevant risks and uncertainties are factored into decision-making, but also the economic value of being able to do so.

To read more about AOG, please visit aogexpo.

The world’s largest E&P (upstream) expo, NAPE Expo provides a marketplace for the buying, selling and trading of oil and gas prospects and producing properties via exhibit booths. NAPE is the premier E&P networking venue – where one can see what’s going on throughout the entire oil patch.

We will be attending the NAPE Winter Expo, exhibiting together with our cooperation partners Hamilton Group and Aker Solutions. The combination of technologies and skills from Aker Solutions and Hamilton, with the software from IPRES secures a powerful state of the art integrated solution for oil and gas asset development planning.

By using an Integrated Decision Support System, IPRISK Field, and the experienced team from Aker Solutions, Hamilton and IPRES, uncertainty at all levels can be incorporated in the field development project analysis and both planned and unplanned events can be accounted for. In the end, this allows for better and faster decisions and alternative field development plans can be compared.

We will be showcasing our combined service offering at the Winter NAPE EXPO and we invite you stop by and visit us at Booth # 3212.
To read more about NAPE, please visit napeexpo.com