PARIS and HOUSTON – CGG Robertson and Wood Mackenzie have introduced the EV2 decision support platform, designed to help oil and gas companies assess the value of undrilled exploration acreage in the world’s most prospective basins.
CGG claims this is an industry first in terms of coupling a flexible valuation tool with a detailed geological knowledge base in an intuitive environment.
EV2 differentiates volume and value potential at basin, play, and block scales, combining this with the ability to change underlying subsurface modeling assumptions.
Users can incorporate proprietary knowledge from seismic, geologic data, and their in-house expertise to calibrate yet-to-find reserve assumptions, subsurface risk maps, and oil price assumptions.
Customized scenarios can be devised to facilitate fast comparisons of farm-ins, license rounds, and other opportunities for new venture teams, petroleum economists, and financial analysts.
The platform covers 100 basins around the world in areas that are either prospective or subject to forthcoming license rounds. The partners plan to expand coverage to a further 80 basins by next March, resulting in what they claim will be a comprehensive global data set.
EV2 is pre-populated with detailed basin, play, and block data, which is said to distinguish it from other services that only provide modeling software. The solution delivers baseline geologic assessments, including play-level maps of combined common risk segment, lead density, and hydrocarbon phase, statistical yet-to-find analysis, and tools to assess field development scenarios and block-specific fiscal terms.