Our Solutions

Reserves evaluation, certification, unitization

Beicip-Franlab provides consultancy and advisory services in Reserves Evaluation, Certification, Unitization and various Expert Opinions at each stage of the E&P process (exploration, appraisal, development, production) and for diversified assets portfolios (new, mature or redeveloped fields, prospects, plays & leads).

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:

  • Assistance and participation in data room

  • Assistance for farm-in, farm-out

  • Assistance for reserves & resources evaluation and valuation
    (after fiscal modeling & economic simulation)

  • Resources & reserves audit – certification

  • Expert opinion:

    • Unitization and/or arbitration

    • Competent person

    • Due diligence

  • Assistance during negotiations (for instance partners or banks)

  • Assistance to optimize the asset portfolio

  • 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:

  • Worldwide: Petroleum Resources Management System (PRMS)

  • United Kingdom: FSA Handbook, AIM Rules

  • U.S.A: Stock Exchange Committee (SEC)/ Code of Federal Regulations

  • Canada: Canadian Oil and Gas Evaluation Handbook (COGEH)

  • Norway: Guidelines to Classification of the Petroleum Resources on the Norwegian Continental shelf

  • Russia: Russian Classification

Typical Work proposed

  • Evaluate OOIP/OGIP

  • Assess plays, leads & prospects and associated risks

  • Estimate exploration success probabilities

  • Prospective contingent resources and reserves evaluation / valuation

  • Prospects ranking

  • Deterministic or stochastic approach

  • Decision tree analysis

  • Review and analyze the conceptual/preliminary/approved development plan

  • 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)

  • Capex / Opex estimation

  • Economic evaluation (fiscal & contract modeling)

Some selected references

  • Country:    Colombia

  • Client:     Mid-size company

  • Service:    Reserve evaluation & valuation

  • Assets:     Producing fields (10 fields)

  • Output:     Successful acquisition on Beicip-Franlab recommendations

  • Country:    Algeria

  • Client:     Gulf investor

  • Service:    Resource evaluation & reserve valuation

  • Assets:     Producing fields & prospects

  • Output:     Not acquired

  • Country:    Yemen

  • Client:     Mid-size company

  • Service:    Resource evaluation & reserve valuation

  • Assets:     Producing field

  • Output:     Block farm-in

  • Country:    Cameroon

  • Client:     Mid-size company + International Bank

  • Service:    Assistance in the economic evaluation

  • Assets:     Producing fields

  • Output:     Not acquired

  • Country:    Gabon

  • Client:     INDIAN oil company

  • Service:    Resource evaluation

  • Assets:     Prospects ranking

  • Output:     Drilling decision

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Guidelines & Rules for Reserves and Resources evaluation or certification

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Guidelines & Rules for Reserves and Resources evaluation or certification

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