Field development projects are often very complex. Projects may consist of producing fields, discoveries and prospects that need to be seen in relation. Exploration risk, multiple geological interpretations, existing infrastructure, capacity constraints and uncertainties in flow-rates, costs, timing and other parameters further complicate the picture. To arrive at an optimal development solution alternative development plans must be evalutated using a structured methodology, taking into account all relevant risks and uncertainties.

IPRISKfield, a member of the family of IPRISK tools, is specifically designed for the evaluation of field development projects. IPRISKfield sits on top of Microsoft Excel and Palisade @RISK and takes advantage of these products flexibility and familiarity.

By using IPRISKfield, 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 develompment plans can easily be compared.

Team approach

• The transparent and integrated model assures team involvement throughout the decision process
• A single calculation model enables what-if scenarios and sensitivities to be rapidly and consistently evaluated
• Tornado diagrams and other pre-defined result plots help to stay focused on main issues, rather than getting lost in details

Model building blocks

• Up to ten Assets in a single analyses

• Oil, gas, associated gas, condensate and NGL
• Field and SI units
• Any currency, exchange rate forecasts between local currency and USD

Comparison, aggregation and scenario

• Compare up to 40 analyses/projects
• Compare sensitivities, concepts or scenarios
• Rank analyses based on NPV criteria or other criteria
• Stochastic aggregation of analyses to calculate total value of portfolios
• Stochastic scenario analyses to solve decision trees and other complex problems

Reserves

• Up to 81 reservoir elements (reservoir zones, fault segments etc.)
• Exploration and segment risks
• Reserves distributions, tables or user distributions from 3^rd party software
• 3D Visualization with uncertainty of typical reservoir structures for training purposes
• Probability for gas cap, oil leg, communication between elements etc
• Distributions for GRV, Porosity, Water saturation, Recovery factor, STOOIP etc.

Production

• Production preview with production profile curve fit to reservoir simulation results
• Uncertainty in plateau rates, plateau length, decline shape etc. for both individual wells, assets and total project
• Production capacity constraints on asset and project level
• Phasing of production as function of available capacity
• Production networks with process and export constraints

Wells

• Exploration, appraisal, oil, gas, injection, sidetracks and converted wells
• Pre-drilled wells and production wells
• Uncertainty in number of wells as function of reserves uncertainty
• Min and max number of wells
• Drilling cost and time uncertainties, probability for problems to occur
• Rig schedule and number of rigs available for drilling
• Type wells for different elements in the model

Facilities

• Process and export facilities
• Sub-sea systems and flow-lines
• Cost and schedule uncertainties
• Phasing of costs with time
• Operational costs, fixed, function of time and/or opex sharing
• Well interventions
• Regularity

Economics

• Inflation
• Discount rate
• Fiscal regimes including PSC regimes
• Tariffs
• Exchange rates
• Oil and gas price forecasts

Results (graphs and tables)

• In place volumes and reserves
• Economic indicators including NPV, Profitability index, Unit cost and Payback
• Production forecasts with expected production, P10, P90 and other fractiles
• Tornado diagrams for NPV, Reserves, Costs
• Cash flow with uncertainty, maximum exposure
• Cross plots, NPV vs. Reserves and more

Reports

• Automatic summary management reports
• Reports in Excel, PowerPoint and Word format
• Reports for input and result parameters

Help System

• Full web-based help system
• Contents, search and index
• Definitions of all parameters and equations

System requirements and installation

• @RISK 4.5, 5.0 or later
• Microsoft Office 2003 or later
• Windows XP /SP2) or later
• FLEXnet / FLEXlm license handler (counted or un-counted) or stand-alone installations