login learning cycle additional knowledge/skills environmental issues team work and negotiation...
TRANSCRIPT
Login
www.oilsim.com
Learning Cycle
Additional knowledge/skills
Environmental issues Team work and negotiation Critical decision making, analytical
skills, multi-tasking Learn through experience Economically viable volumes-
reducing uncertainty Return on Investment Function appreciation
Money and Credibility
You start with $250 millionYou can apply for more money later.
Create valueMeasured by the net value of the oil and gas fields discovered MINUS all costs involved.
Correct answers and sensible decisions are awarded with CPs
Complete Value Chain
Upstream
Oil and Gas Value Chain
OilSim day 1
Licence award,spread risk-negotiationsPre-concession work
Gravimetric data,
Magnetic data
Enviromental data,
Geological maps
2D seismic surveys
Task 1 Task 2
1 st concession round
3D seismic maps
Task 3
Today’s Challenges
Gravimetric surveys Gravimetric surveys show the gravity
in the sub-surface. Measured by airborne sensors.
Sedimentary rocks have lower densities than the surrounding crystalline rocks. Low gravity means high probability of a basin below.
Low gravity are basins. High gravity are crystalline rocks
First task
Challenge: Find three sedimentary basins in the area. Basins are sedimentary rocks in the deep subsurface where oil and gas has been generated.
Procedure: Buy and study magnetic and gravimetric surveys; and to submit the coordinates, column and row number for each basin centre.
Gravimetric surveys
Gravimetric survey:South-east quadrant
Magnetic surveys
Magnetic surveys show similar information as gravimetric surveys. The sedimentary rocks in the basins have a lower concentration of magnetic materials than the surrounding crystalline rocks.
Sedimentary basins are the areas with the lowest magnetic field.
Basins have low magnetic field Non-basins have high magnetic fields.
Magnetic Surveys
Magnetic survey:North-west quadrant
Centre may not be the same
Example:Top basin on
both maps Calculate the
midpoint between the gravimetric and magnetic centres found
= C55 and R105
C50
R100
C60
R110
Finding the Midpoint
Centre Midpoint calculation 3 centres – one Centre
midpoint for each basin Example: C55, R105 Solve before deadline. All
submissions are evaluated after the deadline (and not before).
You may get 0-100 CPs. All three centres must be located to get full CPs.
Task 1 solved
All teams have submitted their answers. Basin centres are located.
Message in Inbox. All teams have answers and CPs awarded.
OilSim day 1
Licence award,spread risk-negotiationsPre-concession work
Gravimetric data,
Magnetic data
Enviromental data,
Geological maps
2D seismic surveys
Task 1 Task 2
1 st concession round
3D seismic maps
Task 3
Today’s Challenges
Sedimentary basins may contain oil and gas.
The government has decided to put the blocks around one of the basins on offer.
Challenge: Identify the 3 most promising blocks and offer an amount for each of them.
1. SOURCE ROCKwhere organic material is put under sufficient pressure
2. MIGRATION ROCKwhere hydrocarbons are driven through
3. CAP ROCKImpermeable rock that stops migration of hydrocarbons 4.
PROSPECT
Source and migration
(c) OLFAnticline trap
Fault trap
Stratigraphic trap
Salt dome trap
Geological “pockets”, that might contain hydrocarbons.
Traps
Red areasYou will not be allowed to bid, drill or operate in any of the red areas (environmentally sensitive areas) Green areasBlocks in area may be awarded.
Is there a sedimentary basin and a migration route into the prospects in the area?
Is there porous reservoir rock in the area, so that the oil or gas can be stored?
Is there a sealing rock in the area, so that the oil and gas can be trapped?
If all are positive, then green If some negative, then orange If mostly negative, then red
Layer 3 Eocene1500m below the surface
Layer 2 Paleocene2500m below the surface
Layer 1 Cretaceous3500m below the surface
CRS. Common Risk Segment surveys tell you about the probability of a structure in the block/cell containing
oil or gas
Surface
2D Seismic surveys Traps can be found with seismic surveys 2D seismic survey is a cross section of
the geological layers along either a column or a row.
2D seismic surveys are used for locating prospects.
Unprocessed Processed
Interpreted Red is top of the sealing rock
Green is top of the reservoir rock
2D Seismic in OilSim
Anticlinal traps
Leakage
Sealant rock
Leakage?
Buy 2D seismic from the survey
shop
What type of data do you want? Columns or Rows Unprocessed or processed
data Interpreted or not
Only buy maximum of 2 block of data at a time to speed
up processing
Red circles – navigate through the 2D seismic
Yellow square – Row 1 from Column 1-56
View the Seismic
Column
Row
Prospect, ReservoirBasin,Source
Minimum bid is $250K Maximum bid is $7.5M Enter numbers without commas
(ex: 250000) You will bid for 3 licenses but
each team will only be awarded one license
Highest bid wins the license If two teams bid the same, the
team with the most CP’s gets it Random license awarded if none
of your bids are high enough
Submit your bid before the deadline!
Recap on Task 2
Environmental Sensitive Areas map to see which blocks to avoid
Common Risk Segment surveys to see which blocks to examine closer
2D surveys seismic to identify which ones have the most (big) structures
Remember to submit 3 bids
Message sent to all teams with the results
Credibility Points are given for prosperity of the blocks you bid for
Every team has got one exploration license
Licence award,spread risk-negotiationsPre-concession work
Gravimetric data,
Magnetic data
Enviromental data,
Geological maps
2D seismic surveys
Task 1 Task 2
1 st concession round
3D seismic maps
Task 3
Today’s Challenges
HQ is happy with the license awarded. Challenge: Farm-out minimum 20% from
your license – and farm-in as much as you can in other good licenses.
Acquire 3D Seismic interpretations for the block you operate, and study the results from the licensing round
Get others to invest 20% or more in your license – you can show/send 3D seismic
Real 3D Seismic
Shows the subsurface structure in a cube.
Layer 1 Cretaceous
Layer 2 Paleocene
Layer 3 Eocene
Partnerships
Spread the risk: e.g Investing in other blocks divides the risks amongst all partners, much more preferable than keeping 100% of one field and all the risk.
Increase probability of profit: investment in only 1 field which could be a dry prospect is possible, whereas the likelihood of investing in 5 fields which are all dry is unlikely.
Licences
Enter the percentage and total amount for have agreed to offerMinimum $100,000 per %Add a message to the sellerPress “Send offer”
Farm-in
When a team receives a Farm-In offer to appears under Financing. This is where a team can receive finance or money for a % of their own blocks
Farm-in
Farm-in License OWNER
decides whether to ACCEPT or REJECT the offer
Partnerships established every time a license owner accepts an offer.
Overview: On the main page, you can see all licenses. 1) licenses you operate, 2) licenses you have invested in, and other licenses.
All your farm-in offers to other teams are shown under “Investing” on the right-hand side of the homepage . This is where a team offers investments to other teams for a % of their blocks
Farm-in
Partnerships
Partners pay a proportional share of all future costs
Partners receive a proportional share of the net proceeds from oil and gas
The operator team makes all decisions regarding drilling
Teams can farm-out up to 70% of licence
Operators must keep 30% of licence