News in IPRESOURCE v.2.2 – Predict reserves replacement based on timelines on project level
• 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.