Technological development to enhance the value of a exploration business case

A. Minich, Y. Berezovski, D. Metelkin, A. Timirgalin, G. Volkov, I. Mukminov

Research output: Contribution to conferencePaperpeer-review

Abstract

For the tasks of geological and economic assessment the benchmarking method is widely used, which impliesthe assessment of the development of a field using methods and technologies that are the most applicable andsuccessful at equivalent fields at the time of the assessment. Taking into account the speed of technologicaldevelopment for hard-to-recover reserves, in fact, the deposits are more likely not to be developed by thetechnologies and approaches that are laid in the assessment. Thus, the potential of some options isunderestimated. In this paper an alternative approach is proposed, which implies a geological and economicassessment of options, taking into account the effectiveness of new technologies that are being introduced,which will become basic by the time the development of the estimated option begins.The performed calculationsshowed that the use of new technologies can increase the investment attractiveness of the option and get a ratingof J> 1. This means that if there is an interesting project from the point of view of the reserves, it is possible toact as the customer for the development and drilling technology, which will provide a profitable case.

Original languageEnglish
Publication statusPublished - Nov 2019
Externally publishedYes
EventProfessional Geological Research and Exploration Scientific Seminar 2019, ProGREss 2019 - Sochi, Russian Federation
Duration: 5 Nov 20198 Nov 2019

Conference

ConferenceProfessional Geological Research and Exploration Scientific Seminar 2019, ProGREss 2019
Country/TerritoryRussian Federation
CitySochi
Period05.11.201908.11.2019

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