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.
Reservoir Fluid System
Objective:
Develop a system of correlations and analytics to identify reservoir fluid system
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
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
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
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
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)
Develop techno-commercial assessment for financial investment decision support (M&A, FID or Asset & Portfolio Management)
Typical Workflow:
- Identify clients’ key drivers (KPIs) and constraints
- Define scenarios (staged developments or competing concepts)
- Scheduling, production, OPEX/CAPEX
- Single/multiple phases with dependencies
- Setup and calibrate fiscal model (e.g. corporate Excel FM)
- Identify/define uncertain parameters: includes ranges, distributions and dependencies
- Conduct numerical assessment
- 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.
Categorize the oil and gas reservoir in complexity indices. The advantage is an objective classification of the prospect from a geological and engineering standpoint.