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At all stages of the E&P lifecycle, companies rely on accurate data to validate concepts and justify important decisions. Yet limited or incomplete data can cause inaccuracy, and lead to unrealistic expectations, reporting, and decision making. This article demonstrates the importance of methodically incorporating global analogues into all decision-making processes to provide context, giving confidence that concepts are realistic, leading to better decisions and greater value.
Global analogues benchmark parameters to assess the viability of planned or ongoing projects, providing a critical context for important decisions, enabling the opportunity to:
Benchmarking a company’s own assets against global analogues increases confidence in concepts, estimated production rates and recovery factors by providing insights into the critical factors that control reservoir performance and recovery efficiency in each reservoir.
A lack of reliable information can cause unnecessary levels of uncertainty and risk. Global analogues help companies understand the full range of uncertainty affecting their planned and existing E&P activities. By comparing and benchmarking prospects and existing assets against large data sets of applicable global analogues, companies can highlight if something is wrong with a model or assumption. Further analysis of data can provide critical understanding into the key uncertainties that effect an operator's prospects and assets, reducing the potential impact on drilling success, overall recovery, and the cost of obtaining additional resources in future. This is particularly important during exploration when companies must generate new ideas, characterise plays and concepts, calibrate volumetrics, and validate production forecast profiles.
Many companies fixate on local analogues, believing they are the only sources of information that are relevant to their particular situation. However, the information from global analogues is critical to place decisions in context when applied to a company’s own assets. Analogous fields and reservoirs around the globe share similar properties and experience similar issues. By accurate identification of applicable global analogues, prospects and assets can be benchmarked to identify best in-class performance where operators have achieved optimal outcomes. Understanding how other operators have applied innovative solutions to achieve superior performance in exploration and production, saves both cost and time.
Global analogues are used to identify and understand where others have succeeded and failed in the past. Benchmarking planned or existing field developments against global analogues allows operators to identify fields with comparable reservoir properties that have faced similar challenges to their own. Operators can then analyse and explore in detail the methods applied and consider them for use on their own assets. Effective use of appropriate analogues provides a global context upon which to benchmark the performance of assets and gives a higher degree of confidence for critical decisions, such as:
Companies rarely have sufficient time and resource to document and collate external and internal information into a company’s database. C&C Reservoirs solves this problem, allowing companies to benefit from of decades of dedicated research and reporting into fields and reservoirs from across the globe. Our technical team consists of seasoned geoscientists and reservoir engineers, and our company has spent more than 25 years collecting, reviewing, and synthesising geological, reservoir engineering and production data on the world’s most important fields and reservoirs. Our coverage includes every significant petroleum basin, play and reservoir type, as well as development and production challenges, and IOR/EOR methods. These fields account for more than 70% of global conventional recoverable reserves and, collectively, document both best practices and technical failures from global E&P activities of the past century.
This valuable information is made available via our product, Digital Analogue Knowledge System (DAKS™). DAKS is a cloud-based knowledge platform which incorporates our unique Field Evaluation Reports, a digital global knowledge base, a suite of powerful data analytics and benchmarking tools, all underpinned by a pioneering classification system. The wide range of analytical and benchmarking tools available in DAKS provides an opportunity to perform in-depth analysis and comparison of your prospects and assets against any selection of global analogues.
Contact C&C Reservoirs today to learn more about how global analogues can help your company make better decisions and drive value across the entire E&P lifecycle.
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