Reserves evaluation, certification, unitization
Our clients include international oil companies, national oil companies, governments, financial institutions and banks.
From Exploration to Production – Assets Evaluation / Expert Opinion – Know-how, Experience, Services
Beicip-Franlab offers assistance with the following activities:
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Assistance and participation in data room
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Assistance for farm-in, farm-out
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Assistance for reserves & resources evaluation and valuation
(after fiscal modeling & economic simulation) -
Resources & reserves audit – certification
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Expert opinion:
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Unitization and/or arbitration
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Competent person
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Due diligence
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Assistance during negotiations (for instance partners or banks)
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Assistance to optimize the asset portfolio
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Organization of workshops in Beicip-Franlab offices at the end of studies
Guidelines and classifications used
Our work can be performed following several guidelines and classifications such as:
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Worldwide: Petroleum Resources Management System (PRMS)
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United Kingdom: FSA Handbook, AIM Rules
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U.S.A: Stock Exchange Committee (SEC)/ Code of Federal Regulations
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Canada: Canadian Oil and Gas Evaluation Handbook (COGEH)
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Norway: Guidelines to Classification of the Petroleum Resources on the Norwegian Continental shelf
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Russia: Russian Classification
Typical Work proposed
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Evaluate OOIP/OGIP
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Assess plays, leads & prospects and associated risks
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Estimate exploration success probabilities
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Prospective contingent resources and reserves evaluation / valuation
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Prospects ranking
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Deterministic or stochastic approach
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Decision tree analysis
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Review and analyze the conceptual/preliminary/approved development plan
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Analogy / statistical, volumetric & performance analysis
(DCA, material balance, numerical simulation) for recovery factor -
Field analysis: new field / mature field / redeveloped field (e.g. EOR screening & evaluation methods)
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Capex / Opex estimation
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Economic evaluation (fiscal & contract modeling)
Some selected references
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Country: Colombia
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Client: Mid-size company
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Service: Reserve evaluation & valuation
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Assets: Producing fields (10 fields)
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Output: Successful acquisition on Beicip-Franlab recommendations
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Country: Algeria
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Client: Gulf investor
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Service: Resource evaluation & reserve valuation
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Assets: Producing fields & prospects
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Output: Not acquired
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Country: Yemen
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Client: Mid-size company
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Service: Resource evaluation & reserve valuation
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Assets: Producing field
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Output: Block farm-in
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Country: Cameroon
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Client: Mid-size company + International Bank
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Service: Assistance in the economic evaluation
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Assets: Producing fields
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Output: Not acquired
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Country: Gabon
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Client: INDIAN oil company
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Service: Resource evaluation
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Assets: Prospects ranking
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Output: Drilling decision