This seminar will teach participants how to identify, evaluate, and quantify risk and uncertainty in everyday oil and gas economic situations. It reviews the development of pragmatic tools, methods, and understandings for professionals that are applicable to companies of all sizes. The seminar also briefly reviews statistics, the relationship between risk and return, and hedging and future markets. Strategic thinking and planning are key elements in an organisation’s journey to maximise value to shareholders, customers, and employees. Through this workshop, attendees will go through the different processes involved in strategic planning including the elements of organisational SWOT, business scenario and options development, elaboration of strategic options and communication to stakeholders.
Decisions in E&P ventures are affected by Bias, Blindness, and Illusions (BBI) which permeate our analyses, interpretations and decisions. This one-day course examines the influence of these cognitive pitfalls and presents techniques that can be used to mitigate their impact. Bias refers to errors in thinking whereby interpretations and judgments are drawn in an illogical fashion. Blindness is the condition where we fail to see an unexpected event in plain sight. Illusions refer to misleading beliefs based on a false impression of reality.
Fahmi, Adel (Belayim Petroleum Company) | Attia, Alaa (Belayim Petroleum Company) | El-Tokhy, Medhat (Belayim Petroleum Company) | Saber, Sharif (Belayim Petroleum Company) | Madkour, Alaa (Belayim Petroleum Company)
The present work is intended to summarize some observations derived from the structural seismic interpretation carried out in Abu Rudeis/ Sidri field, based on the recently acquired OBC-2010. A new 3D OBC Seismic survey was acquired recently in the area in 2010 Showing a new and more interesting exploratory blocks in the Miocene (Nukhul Fm) and Pre-Miocene (Lower Senonian, Turonian, Cenomanian and Nubia sandstone) in addition to, the new un-conventional reservoir (fractured Igneous intrusions and meta sediments).
The study area is located within the north western of Red Sea- Gulf of Suez. The rift system is interpreted started around the late Oligocene and continue throughout the Miocene, and undertook extension in N650 W direction, nearly perpendicular to pre-existing WNW trending pan African shear Zone fabrics in the crystalline basement of the Sinai African plate.
The interpreted fault pattern is characterized by a series that comprises two sets of faults. The first corresponds to the northwest-southeast trend, which bound the study area from the South, offset fault segments throughout ramp relay structures, with maximum throws around 1000 m, juxtaposing Eocene-Paleocene sediments from the down-thrown block (basin wards) against the basement in the up-thrown block, the second system trends northeast-southwest and is interpreted as a later evolution of the rifting this last mainly strike slip and, the pre-existent northwest-southeast trending off-set fault segments by breaking the ramp relay structures.
As a fruitful result of the new 3D-OBC seismic survey, a positive result of the drilling good discovery proved the presence of the hydrocarbon potentialities and proved the conventional and unconventional reservoir.
The summary of these observations regarding the tectono-stratigraphic evolution of Abu Rudeis field area advocates both, remaining field exploration and development opportunities.