Australian Engineering Awards 2016: Australia Pacific LNG Business Optimisation Process Modelling (BOPM) Project (Executive Summary)
Australia Pacific LNG (APLNG) and 3esi-Enersight win 2016 Australian Engineering Excellence Award, recognized for setting a new standard of engineering excellence for CSG to LNG projects. The $23b Australia Pacific LNG (APLNG) project is one of three coal seam gas (CSG) to liquefied natural gas (LNG) projects that have been developed in Queensland, Australia. This project has commenced delivery of LNG to markets in Asia based upon long term supply contract and is underpinned by more than 13,000 PJ of P2 reserve gas from in excess of 10,000 wells over 50 years.
Unconventional plays requiring large, high cost development programs now dominate the North American onshore Oil and Gas business. Large drilling programs are often justified and forecast based on ‘type curves: forecasts for a typical single well, intended to be repeated as many times as necessary to represent an extensive drilling program. When companies want to add uncertainty analysis to their forecasts, that work often begins with extending the type curve to include a range of possible single well outcomes, often by including the production forecast for a P10 and P90 well on the curve.
SPE-179971- Comprehensively Valuing an Asset: How a Holistic Value Approach Aligns With Specific Corporate Goals (Abstract)
Valuing an asset is not simply taking total potential revenue and deducting from it the estimated cost to produce that revenue. Likewise, an asset with the highest net present value (NPV) is not necessarily the best investment for a company to make. More important than its potential to generate revenue, defining the value of an asset depends on the context of the company portfolio to which the asset belongs as well as the current and future environment and infrastructure surrounding that asset.
SPE-179969 – Solutions to 5 Strategic Issues Plaguing Executives in 2015-2016: Solving the Right Problems With Portfolio Management (Abstract)
This paper will discuss three examples where companies have used portfolio management models to rapidly explore strategic scenarios in an effort to answer strategic issues. The examples illustrate how portfolio functions including optimization, uncertainty analysis and integrated financials have allowed some companies to efficiently plan in these volatile times. The examples illustrate solving strategic issues such as rapidly exploring strategic investment scenarios, assessing investment options at multiple commodity price points, balancing financial and operational metrics, balancing near and long term performance and rapidly developing capital allocation strategies.
SPE-179968 – Integrating Planning, Financial and Economic Data: Closing the Integrity Gap (Abstract)
Alianza Casabe, a Technical Collaboration venture between Ecopetrol and Schlumberger in Colombia, was finding that ensuring data integrity between the planning, finance and economic models being used by different stakeholders for investment decisions required a substantial amount of interaction and data reconciliation. Economic scenarios were only appraised at a high level of granularity, reducing the ability to factor in economic metrics at the individual well or projects level, as part of the selection of the best possible portfolio. At the same time, existing systems were turning all planning milestones into protracted exercises demanding very high effort by all participants to deal with the intense manual data manipulation, reconciliation and quality control required. Alianza Casabe set out to enhance and simplify the planning processes, to improve efficiency in annual work plan preparation, facilitate performance tracking during execution and most important improve overall investment decisions quality.
Corporations often begin each year with a corporate strategy, a business plan and high expectations of success from their pending business operations. As they execute the business plan they meet with successes and failures, all the time wondering if they should reassess future business plans. Are they better off drilling the remainder of the proposed opportunities, or should they reconsider other opportunities? These decisions are frequently impacted by emotion and intuition as much as by technical analysis.
Throughout the year, corporate executives routinely share information with analysts and stakeholders about their results to date. The information reflects their reactions to the results received to date as tempered by their expectations for the remainder of the year. This system of information collection, analysis, decisions and communication frequently lacks consistency and can be quite time consuming.
This paper will illustrate how companies can use portfolio management techniques to improve the efficiency of their business plan monitoring and the quality of the information available to the
decision process. We will show how portfolio management can be used to track corporate performance and continually reassess the remaining business plans throughout the year. As results are derived, the company can use portfolio processes to monitor the expected business results and the probability of meeting their goals. We will illustrate how portfolio management can help decision makers determine when to change plans and when to stay on the planned course.
- Oil and Gas Industry’s First Conference Devoted to Planning Attracts More Than 70 Energy CompaniesDecember 6, 2016 - 12:29 pm
- APLNG and 3esi-Enersight Win 2016 Australian Engineering Excellence AwardSeptember 8, 2016 - 4:00 am
- Gartner Hype Cycle for Upstream Oil and Gas Technologies, 2016August 15, 2016 - 15:25 pm
Interesting linksHere are some interesting links for you! Enjoy your stay :)
- Upstream Planning Networking Happy Hour in Brisbane, June 13
- June 13, 2017,
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