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We can help develop Project Feasibility . . .
The main objective of the Assess  phase is to demonstrate the 'Feasibility' of the opportunity.  Feasibility implies that there is a high probability of commercial success (NPV > 0) under wide range of scenarios.


Assess phase is characterized by divergent thinking, we can help with:

  1. Looking at the range of of possible subsurface realization

  2. Generating the range of potential development options

  3. Identifying key risks (especially show-stopping risks)

  4. Developing Appraisal strategy to help manage uncertainties and reduce risk.

  5. Prepare Feasibility Report

Subsurface Realizations (see fig below)

  • Range of key uncertainties and potential outcomes helps define  realizations (or visualizations)

  • Realization are mutually exclusive and collectively exhaustive

Realizations & uncertainty.jpg

Development Options (see fig below)

  • Range of development decisions and development options  define development concepts

Concepts & decisions.jpg

Development Scenarios (see fig below)

  • Range of subsurface realizations and development concepts define a scenario

  • Few development scenarios will be commercially viable (Green), for all subsurface realizations

  • These commercial scenarios will be evaluated in detail in next concept SELECT phase.

Multiple scenarios.jpg

APPRAISAL  (see fig below)

  • Main objective is to gather data and information; it consists of shooting seismic, reprocessing and interpreting seismic or drilling appraisal well. Appraisal typically occurs in ASSESS or SELECT phases. 

    • Exploration Appraisal: is done to delineate field and assess commerciality to support feasibility

    • Development Appraisal: is done to support a decision on field development concept


Managing Appraisal In Capital Projects

  1. Effective appraisal results in successful outcome (meeting NPV promise at FID) through good FEL 

  2. Exploration Appraisal determines commerciality; i.e. min development threshold (volume) for a concept (EX: SSTB in DW) 

  3. Development Appraisal (Good FEL) aims for optimum concept Select; narrowing uncertainty range and higher accuracy through good FEL

  4. An inadequate FEL results in; ‘fundamental errors’ or ‘Unrealistic optimism’ leading to unsuccessful outcomes (NPV downgrade)

  5. Good FEL results in; ‘Understanding Uncertainty’ or ‘Real Optimism’ leading to successful outcomes (meets NPV & production promise)


The Feasibility report will have :

  • All the data sources and subsurface interpretation (Seismic, geologic, petrophysics, reservoir etc.)

  • A detailed risk register highlighting key risks and their mitigations

  • Key subsurface realizations underpinned by key uncertainties 

  • Main development options underpinning the the key development decisions.

  • Economic screening of development concepts against the criteria

  • Further data acquisition and appraisal plans for next concept SELECT phase.

  • Cost estimate at Level-1 (screening; XX%/-YY%)


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