Belltree has developed an innovative software, bMark™, providing access to independent validations of your energy reserves. Moreover, providing information on where your fields perform set in the global context, whilst lowering investment risk through predictive analytics and benchmarking insights.
Belltree has a global footprint and some projects happened in Africa. This case study goes over the problem faced by our Client, Offshore Africa. Also, highlighting the solutions and accomplishments by using bMark™ software and Belltree consultancy service.
Overview, Client Challenge
The fields in question form a cluster of seven mature offshore fields. First developed in the 1980’s the cluster was approaching the end of its current reserve life after producing over 1Bnbbl historically. The Joint Venture devised a redevelopment plan to significantly boost the recoveries from the Block and wished to sense-check their forecasts against international analogues.
Solution
The Client leveraged Belltree’s bMark™ benchmarking software to compare performance to-date and forecasts on a field-by-field basis against international benchmarks & analogues. Underlying data inputs, model reserves forecasts as well as development assumptions and metrics were robustly benchmarked in bMark™.
In addition, through bMark™ 30+ close analogue developments from around the globe, including four in Africa were identified. These fields were also benchmarked to provide additional insights to the Joint Venture.
Achievements
-Client range of reserve & resource cases benchmarked
-Validation of Joint Venture modelling and development plan
-Significant upside reserve potential highlighted for two of the seven fields with recommendations on optimal project selection.
Other case studies here: News – Belltree (belltreegroup.co.uk)
About Belltree
About Belltree
For more than 14 years Belltree have helped companies & governments around the globe unlock value in their hydrocarbon portfolios. Providing unsurpassed technical excellence across integrated technical studies, development planning, independent reserves auditing and technical due diligence.
Since launch in 2015 bMark™ has allowed users to discover the value story of their assets, empowering teams with instant access to an independent, global and statistically robust data technical data set of 50,000+ oil & gas assets presented alongside analysis tools within an easy-to-learn interface that complements traditional engineering, geoscience & commercial workflows.
Belltree partners: Welcome to Merlin Energy Resources Ltd – Merlin
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