K&F’s proprietary enabling technology: Fully Probabilistic Asset (E)valuation Framework

  • Strongly top-down centric (fast results with focus on integration)
  • At the core is a state of the art techno-commercial simulator to model assets
    • Covers all aspects, i.e. scheduling, production, expenditure load and economics
    • Each asset model can comprise any number of phases&contractors
    • Individual assets can be rolled up into groups of assets
    • Full flexibility to define relationship between phases / assets (timing, etc.)
  • High performance computing engine & environment
    • Industry grade functions & optimizers
    • Fully parameterized with full audit trail
    • Dramatic improvement in efficiency compared to spreadsheet based methods (e.g. runs 10,000 full asset models for Monte-Carlo analysis)
    • Utilizes techniques developed for history matching (e.g. risk/uncertainty framework)
  • Sophisticated post-processing capabilities
    • Focus on high end visualization

K&F workflow

The described workflow below enables the full reservoir assessment using propriety software solutions.
grafik-technology

Reservoir Fluid System
Objective:
Develop a system of correlations and analytics to identify reservoir fluid system

Technology:

  • Extensive library of state of the art correlations that is constantly updated and customized
  • Advantages compared to conventional PVT analysis:
    • Minimum input of known data (such as data room typical)
    • Measured data and offset data where available for calibration & QC
    • Covers very wide range of physical properties
Reservoir Volumetric
Objective:
Quickly assess and validate hydrocarbon volumes in place

Technology:

  • Monte-Carlo based efficient single tank volumetric model
  • 25 different distributions implemented
  • Modelling of correlated parameters possible
Reservoir Diagnostic
Objective:
Assess past and future asset performance

Technology:

  • Evaluation of large datasets enabled by proprietary technology
  • Connection of key analyses techniques
  • Statistical analysis for spatial and temporal data assessment (mapping, correlations)
  • Empirical methods (DCA)
  • Basic reservoir engineering techniques (Material balance)
  • Different oil field correlations
Waterflooding
Objective:
Understand the reservoir dynamics with respect to water movement

Technology:

  • Dynamic numerical simulation to calculate water-oil displacement processes in the reservoir
  • Visualization of the water flood performance to calculate the oil recovery, water production and water injection
  • Optimization of injection spot pattern
  • Determination of water coning in vertical and horizontal wells, the critical flow rate, breakthrough time predictions and performance calculations after breakthrough
Reservoir Predictive Toolbox
Objective:
Develop different mathematical methods for production forecasting

Technology:

  • Empirical methods , like Decline Curves
  • Material balance models
  • Link to dynamic simulation models
Techno-Commercial-Simulator
Objective:
Develop techno-commercial assessment for financial investment decision support (M&A, FID or Asset & Portfolio Management)

Typical Workflow:

  1. Identify clients’ key drivers (KPIs) and constraints
  2. Define scenarios (staged developments or competing concepts)
  3. Scheduling, production, OPEX/CAPEX
  4. Single/multiple phases with dependencies
  5. Setup and calibrate fiscal model (e.g. corporate Excel FM)
  6. Identify/define uncertain parameters: includes ranges, distributions and dependencies
  7. Conduct numerical assessment
  8. Carry out prediction, uncertainty assessment and optimization

Benchmark phases or competing scenarios

Reservoir Catalogue
Objective:
Categorize the oil and gas reservoir in complexity indices. The advantage is an objective classification of the prospect from a geological and engineering standpoint.