Publications

Our journey to the recent discovery began in 2020 with the completion of the Seismic Reprocessing, utilizing Full Wave Inversion (FWI). This new seismic method played a pivotal role in the success of oil discovery at the well-X, which was spudded in January 2021, tested at an approximate flow rate of 2,100 BOPD and was understood to be commercially attractive.

In an endeavor to accelerate the monetization of the field, the team took significant steps and focused on expediting the approval processes by pursuing technical excellence prior to the submission of Plan of Development (POD) to the Host Authority.

Upon the PSE approval in June 2021, the monetization study was initiated promptly. Challenges arose during exploration drilling, leading to limited data acquisition and the absence of a comparable analogue production field in the same reservoir formation. To address these challenges, an unprecedented level of inter-disciplinary communication was established to facilitate the development of a fit-for-purpose reservoir model.

Moreover, an external independent field’s Resource and Reserves certification that incorporated all subsurface uncertainties and was completed to fulfill POD-1 governance in this Production Sharing Contract (PSC).

This initiative has set a new level in multi-disciplinary integration, data utilization, methodologies, and workflow robustness aimed at capturing uncertainties in the field. Additionally, as part of a de-risking strategy, the Phased Development was proposed. This approach, considered the significant impact of subsurface uncertainties on the investment exposure, , led to the definition of two development phases, where the primary objective of Phase-1 was to acquire critical data before progressing to Phase-2.

This accomplishment allowed the team to complete the POD within 1.5 years from the field’s discovery.

Our journey to the recent discovery began in 2020 with the completion of the Seismic Reprocessing, utilizing Full Wave Inversion (FWI). This new seismic method played a pivotal role in the success of oil discovery at the well-X, which was spudded in January 2021, tested at an approximate flow rate of 2,100 BOPD and was understood to be commercially attractive.

In an endeavor to accelerate the monetization of the field, the team took significant steps and focused on expediting the approval processes by pursuing technical excellence prior to the submission of Plan of Development (POD) to the Host Authority.

Upon the PSE approval in June 2021, the monetization study was initiated promptly. Challenges arose during exploration drilling, leading to limited data acquisition and the absence of a comparable analogue production field in the same reservoir formation. To address these challenges, an unprecedented level of inter-disciplinary communication was established to facilitate the development of a fit-for-purpose reservoir model.

Moreover, an external independent field’s Resource and Reserves certification that incorporated all subsurface uncertainties and was completed to fulfill POD-1 governance in this Production Sharing Contract (PSC).

This initiative has set a new level in multi-disciplinary integration, data utilization, methodologies, and workflow robustness aimed at capturing uncertainties in the field. Additionally, as part of a de-risking strategy, the Phased Development was proposed. This approach, considered the significant impact of subsurface uncertainties on the investment exposure, , led to the definition of two development phases, where the primary objective of Phase-1 was to acquire critical data before progressing to Phase-2.

This accomplishment allowed the team to complete the POD within 1.5 years from the field’s discovery.