View
2
Download
0
Category
Preview:
Citation preview
1
A brief report on the 3rd Expert Visit
to China Case Study
Exploration and Production Research Institute , SINOPEC
Southwest Branch Company , SINOPEC
20 June , 2005
2
Dr. Alfred Kjemperud20-24 April 2005Beijing, China
Modelling of Exploration Projects by Use GeoX 5.4
ContentsLecture
• Resource Assessment---General Principles• Play analysis methodology• Setting up GeoX5.4• Monte Carlo Analysis• General Prospect Evaluation• Risking of prospects and segments• Resource and Reserve Classification • Basic Economic Principles• Economic Modelling• Petroleum Fiscal Regimes • Risk Analysis and Exploration Economy
Exercise
• Demonstration A: Getting familiar with GeoX5.4• Demonstration B: Simple play analysis using GeoX5.4• Exercise A: Play analysis from a sedimentary basin• Exercise B: Simple prospect analysis from Sichuan basin• Exercise C: Prospect analysis (multiple segment analysis)• Exercise D: Economic analysis in spreadsheet based models• Exercise E: Deterministic full cycle modelling in GeoX5.4• Exercise F: Full cycle probabilistic analysis with emphasize on generating production curves• Exercise G: Probabilistic full cycle analysis using data from Sichuan basin• Exercise H: Fiscal modelling in GeoX5.4• Exercise I: gPortfolioV using Sichuan data• Exercise J: Economic analysis of plays
3
Benefit
1) Familiar with new functions and tools in GeoX5.4
2) Some new methods and concepts regarding the petroleum resource assessment and exploration economy have been introduced
Calculation of prospect numberPlay economic analysisMultiple segment analysisDHI riskingCorrelation of input dataProduction profile modelling
Application
1) Economic analysis of Xu2 play
2) DHI risking of Fengu prospect
3) Multiple segment anlysis of Dayuanbao and BailuchangProspects
4
Economic analysis of Xu2 Play
5
Source RockSource Rock TT33x, Tx, T33t+mt+m
Cap RockCap Rock TT33xx33 mudstonemudstoneTrap TypeTrap Type fracturalfractural--porousporousReservoir Reservoir LithologyLithology sandstonesandstonePorosity & PermeabilityPorosity & Permeability φφ=2=2--12%K=0.0212%K=0.02--10md10mdBuried DepthBuried Depth 45304530--4850m4850mProven Reserve in PlaceProven Reserve in Place 6.76.7××101099mm33
Upper Triassic Xu2 Sandstone Play
9
Step1 Calculating the Pool size distribution by rank ( gPlayR)
Step2 Economic evaluation for each prospect ( gFullcycle)
Step3 Economic analysis of Xu2 play (gPortfolioV)
6
Pool sizes by rank in Xu2 playMean(109m3) P90(109m3) P50(109m3) P10(109m3)
1 32.53 16.63 29.45 52.14
2 21.15 12.00 19.64 32.16
3 15.98 9.82 15.10 23.23
4 12.82 8.18 12.21 18.24
5 10.57 6.87 10.11 14.85
6 8.82 5.78 8.44 12.32
7 7.37 4.83 7.05 10.29
8 6.11 3.97 5.83 8.57
9 4.96 3.16 4.72 7.05
10 3.85 2.35 3.63 5.61
11 2.63 1.44 2.43 4.07
The details of gFullcycle analysis 1-11
7
Definition of portfolio value analysis in Xu2 play
The details of fullcycle analysis 1-11
8
Profiles of portfolio value analysis in Xu2 play
Parameters Mean F90 F50 F10
NPV(106 USD ) 604.6 469.2 590.3 742.5
Total Produced (106 OE) 52.8 43.3 52.0 65.7
Performance index of portfolio value analysis in Xu2 play
9
Estimation Problems
Could not locate the prospects calculated by pool sizes by rank in the map
Some input of economic parameters are extremely subjective
Project start yearTransportation cost etc.
DHI Risking of Fengu Prospect
10
XinchangK、J3P、J2S、
J2q 、 T3XDongtai
J3P
HexingchangJ3P、J2S、T3X
XiaoquanJ3P、J2S、T3x
YazhiheJ2q、 T3X
MajingK、 J3P
XinduJ3P
LuodaiJ3P、J2S
JingtangJ3P
ZhongjiangJ2S
FenguJ1Z、T3X
HuilongJ1Z
JingmaJ2S
WenjiangJ3p
XinshengJ2S
ChengduChengdu
MianyangMianyangDistribution map of gas fields and gas-bearing structures
The seismic amplitude map of B sand body in Xinchuan gas field
11
The μρmap of B sand body in Xinchuan gas field
The λρ map of B sand body in Xinchuan gas field
12
P(ind/ success gas and evaluated reservoir)Conditional probability of occurrence of the observed DHI given
that the prospect is a success gas accumulation with the evaluated reservoir
P(water)Conditional probability of finding water given that the prospect
is not a hydrocarbon accumulation
13
P(gas/DHI=present) = P(gas) P(DHI=present/gas)/ P(gas) P(DHI=present/gas)
+P(dry) P(DHI=present/dry)
Fengu prospect
Initial estimation with DHI
Succss Discovery(%) 36 62.8
Rec.Non Assoc. Resources (109m3) 14.3 14.3
Recovered Na Gas(%) 59 59
NPV (106 USD) 122.9 122.9
IRR (%) 36.2 36.2
EMV (106USA) 36.9 74.5
14
Multiple segment analysis of Dayuanbao and Bailuchang Prospects
15
Dayuanbao Prospect Bailuhang Prospect
Xu2 segment Xu2 segmentT2L segment T2L segment
Dayuanbao ProspectXU2 segment
P ( discovery,%) 32.3Ps (%) 31.7NA Gas Res. Resource (Mean 109m3) 18.7NPV (106 USD) 148.9IRR (%) 19.8EMV (106 USD) 41.4MER (106 USD) 10.2NTER (yr) 2.39
16
Dayuanbao ProspectT2L segment
P ( discovery,%) 15.9Ps (%) 15.2NA Gas Res. Resource (Mean 109m3) 31.8NPV (106 USD) 189.9IRR (%) 15.6EMV (106 USD) 11.8MER (106 USD) 32.3NTER (yr) 1.76
Bailuchang ProspectXu2 segment
P ( discovery,%) 32.3Ps (%) 26.8NA Gas Res. Resource (Mean 109m3) 8.03NPV (106 USD) 52.8IRR (%) 14.5EMV (106 USD) 4.14MER (106 USD) 10.3NTER (yr) 1.84
17
Bailuchang ProspectT2L segment
P ( discovery,%) 15.3Ps (%) 13.0NA Gas Res. Resource (Mean 109m3) 9.76NPV (106 USD) 58.4IRR (%) 13.2EMV (106 USD) -2.33MER (106 USD) 5.92NTER (yr) 1.53
Bailuchang Dayuanbao
In place resource (106m3 OE) 21.6 53.1Recoverable resource (106m3 OE) 9.50 25.1NPV (106 USD ) 13.2 87.7
18
Joint Segment Probability of Dayuanbao Prospect
Joint Segment Probability of Bailuchang Prospect
19
Play fractionals of Dayuanbao Prospect
Play fractionals of Bailuchang prospect
20
Conclusion
• Dayuanbao prospect has a better gas potential
•The probability that both Xu2 segment and T2L segment are discovery is very low
• Xu2 segment is the first priority for gas exploration
Recommended