In 2018 Petronate assisted a Norwegian Operator on a Data Room organized by a Dutch Major evaluating the reservoir properties and validating predicted forecasts of two producing assets located in the North- and Norwegian Sea. Interest in both assets was amplified by the expected remaining reserves and prospective resources plus granting the opportunity to become operator within an interesting area upon other players. Such operations would include the producing offshore unit as well as land base including full man power and responsibility.
A Virtual Data Room (VDR) was made available beforehand to review and familiarize with both assets. Specific reservoir properties and simulation models were inspected, both presenting a pretty much pre-mature status. However, all available data was collected and qualified with respect to reservoir characterization.
The Physical Data Room (PDR) was initiated by a management presentation and left open until the following business day. Inspected data could be requested within the PDR and post release delivered in digital format.
Both Jurassic formations were evaluated on the basis of their reservoir properties and benchmarked with analogue data. In addition, the fluid data (PVT), SCAL and Initialization methods were verified. Made observations and performed check routines guided some adaptions and adjustments including scheduled well and facility activities in the near future.
After consultation with the rest of the team, the revised production profiles were handed over to estimate the economic efficiency as well as to calculate the profitability in order to give management an investment recommendation. Please honor that results of such cannot be published.