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[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object]
Complete Value Chain Upstream
[object Object]
Blocks are divided into smaller cells e g. R1C1 Columns e.g C1 and C54  Rows e.g R15 and R97
[object Object],[object Object]
[object Object],[object Object]
[object Object],[object Object]
 
[object Object],[object Object],[object Object],[object Object],C50 R100 C60 R110
[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object]
[object Object],[object Object],[object Object]
1. SOURCE ROCK where organic material is put under sufficient pressure 2. MIGRATION ROCK where hydrocarbons are driven through 3. CAP ROCK Impermeable rock that stops migration of hydrocarbons 4. PROSPECT
(c) OLF Anticline trap Fault trap Stratigraphic trap Salt dome trap ,[object Object]
Red areas You will not be awarded blocks that contain any red spots Blue areas Blocks in area may be awarded Environmentally Sensitive areas
Layer 3 Eocene 1500m below the seabed Layer 2 Paleocene 2500m below the seabed Layer 1 Cretaceous 3500m below the seabed CRS.  Common Risk Segment surveys tell you about the  probability  of a structure in the block/cell containing oil or gas Surface
[object Object],[object Object],[object Object],[object Object]
Unprocessed Processed Interpreted Red  is top of  the sealing rock Green  is top of  the reservoir rock
Text Anticline and Fault Traps Leakage
[object Object],[object Object],[object Object],[object Object],Only buy  maximum of 4 blocks  of data at a time to speed up processing The  yellow hatched  area on map can be clicked on and dragged to blocks of interest
[object Object],[object Object],[object Object]
Column Row Prospect, Reservoir Basin,Source
[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object]
CSR Tab
[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object]
[object Object]
3D Seismic  in Oilsim  Layer 3 Eocene Layer 2 Paleocene Layer 1 Cretaceous
[object Object],[object Object]
 
[object Object],[object Object],[object Object],[object Object]
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
[object Object],[object Object],[object Object]
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
[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object]
Commence Drilling ,[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object]
Choose drilling rig Scroll down  the page to see the Drillships, Semi-subs and Jack-ups
[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object]
Drill Position ,[object Object],[object Object]
Layer 1 Cretaceous Layer 2 Paleocene Layer 3 Eocene
 
Oil spill or Gas Blowout control Estimated cost
[object Object],[object Object]
Proven Possible
 
 
Assumptions
Value calculation
[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Effect on calculation of licence Now total expenses are lower than the sales value and so we have a positive licence value  Expected cost if you developed the field (CAPEX) and produced the oil (OPEX)
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object]

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Pc norway offshoreex356

  • 1.  
  • 2.
  • 3.
  • 5.
  • 6. Blocks are divided into smaller cells e g. R1C1 Columns e.g C1 and C54 Rows e.g R15 and R97
  • 7.
  • 8.
  • 9.
  • 10.  
  • 11.
  • 12.
  • 13.
  • 14.
  • 15. 1. SOURCE ROCK where organic material is put under sufficient pressure 2. MIGRATION ROCK where hydrocarbons are driven through 3. CAP ROCK Impermeable rock that stops migration of hydrocarbons 4. PROSPECT
  • 16.
  • 17. Red areas You will not be awarded blocks that contain any red spots Blue areas Blocks in area may be awarded Environmentally Sensitive areas
  • 18. Layer 3 Eocene 1500m below the seabed Layer 2 Paleocene 2500m below the seabed Layer 1 Cretaceous 3500m below the seabed CRS. Common Risk Segment surveys tell you about the probability of a structure in the block/cell containing oil or gas Surface
  • 19.
  • 20. Unprocessed Processed Interpreted Red is top of the sealing rock Green is top of the reservoir rock
  • 21. Text Anticline and Fault Traps Leakage
  • 22.
  • 23.
  • 24. Column Row Prospect, Reservoir Basin,Source
  • 25.
  • 26.
  • 28.
  • 29.
  • 30.
  • 31.
  • 32.
  • 33.
  • 34.
  • 35.
  • 36.
  • 37.
  • 38. 3D Seismic in Oilsim Layer 3 Eocene Layer 2 Paleocene Layer 1 Cretaceous
  • 39.
  • 40.  
  • 41.
  • 42. 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
  • 43.
  • 44. 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
  • 45.
  • 46.
  • 47.
  • 48.
  • 49. Choose drilling rig Scroll down the page to see the Drillships, Semi-subs and Jack-ups
  • 50.
  • 51.
  • 52.
  • 53. Layer 1 Cretaceous Layer 2 Paleocene Layer 3 Eocene
  • 54.  
  • 55. Oil spill or Gas Blowout control Estimated cost
  • 56.
  • 58.  
  • 59.  
  • 62.
  • 63.
  • 64. Effect on calculation of licence Now total expenses are lower than the sales value and so we have a positive licence value Expected cost if you developed the field (CAPEX) and produced the oil (OPEX)
  • 65.
  • 66.

Notas do Editor

  1. Welcome to OilSim, Exploration and Production Our simulation today is being used to give you a general overview and an Oil and Gas Exploration and Production company and how the parts within it function together. The simulation is a very simplified version of the whole Upstream value chain, since we only have one day to show you the whole process. Also, TOTAL might do things a little differently in certain areas, but the intention is for you to appreciate the complexities of each area and to understand a little of what your colleagues do in departments outside your own. For those of you who are geologists – you might find our 3d seismic to be very simplified compared with the analysis you do on a daily basis For Construction or production engineers – the simplified process of determining the field development does not cover all the steps necessary HOWEVER, the aim is NOT to make you all experts in every part of the Upstream industry but for you to see how all your individual jobs contribute to a larger process and just to give you an insight into the dynamics TOTAL faces each day
  2. how environmental issues are addressed, how testing and appraisal wells reduce uncertainty, and finally the whole concept of economically viable volumes, to find out when do you move beyond exploration and start producing the oil or gas.
  3. In order for your team to be able to start exploring, the headquarters have provided you with 200 million US dollars in virtual money. You can spend this money on acquiring surveys, bidding for licenses, investing in other team’s licenses, and drilling wells. If you run out of money, it is possible to apply for more money from the headquarters. You have to be careful, however, that you do not accept too much money, because, as mentioned, you are being measured on the Return On Investment, or ROI. The ROI is calculated as the value divided by the funds that you receive from the headquarters, so the more money you get, the harder it is to have a high ROI. The value is calculated as the net present value of all the oil and gas fields that your team owns a share of – minus everything you spend.
  4. The long and bumpy road for oil from the underground to your tank, is called the oil and gas industry value chain. The value chain is divided further into these parts: Upstream is about getting the hydrocarbons up from the ground, and comprises of activities related to exploration, field development, construction, production and abandonment. By its nature, the exploration phase is common for both oil and gas, but soon afterwards, the oil and gas value chain will segregate into two parallel value chains. Midstream is about transportation and storage, as well as oil refining and gas processing. Downstream is about distribution and retail sales of gas, fuels and lubricants, plastics and other hydrocarbon derivatives to industrial and consumer markets. OilSim Exploration is all about the exploration part of the oil and gas industry. Exploration is about finding the hydrocarbons and proving that they are in sufficient quantities to start producing. OilSim Production is about actually taking the oil or gas out of the subsurface.
  5. This is how the screen looks like when you browse to the www.oilsim.com web site. To enter the system, you need to enter your user name and your password, and then press the Return key on the keyboard. You will get the user name and password from your teacher/facilitator.
  6. Main screen overview In the middle you can see the map again with a legend below. Later in the simulation the blocks in the map will have different colour codes depending on for example whether it is currently on offer or whether there has been found oil or gas there. You can click on any block on the map and get more information about that block. There is not much information in these ”block pages” early in the simulation session, but these pages that describe each of the blocks become increasingly complex and comprehensive towards the end of the simulation. In the middle of this page you can see a description of the current task with six fields to fill out before the deadline passes. In the left hand side there is first a summary of the current standings. This includes your total value, the capital you have received from headquarters, the cash you have left, your return on investment, your rank among all the players in this simulation reality, and the knowledge points that you have accumulated. Knowledge points are awarded based on how well you solve the tasks within OilSim, and can be used when you ask for more money from the headquarters. By clicking More you can review the accounts with all financial transactions. Below the summary is a brief status, including the deadline for this task. Below the status are a number of simulation options, of which the first one (Home) is the most frequently used. In the Mailbox you can read and send messages from and to your rivals, as well your headquarters and the ministry who awards the licenses. When you click Home you get back to the first page of OilSim, and it is a good advice to go back to the home page frequently. You can also send applications to the headquarters for new funds for your exploration, but be prepared to answer some questions before you can get them to release the funds. By clicking Teams you can see how the other teams are doing, and by clicking Knowledge you can get a list of the times you have gained or lost knowledge points. Below this there are a number of helpful texts for you, including a brief description of the simulation concept, the geology, partnerships, and a glossary. The general structure of this page remains the same throughout the simulation.
  7. Your first task is to identify the three basins that are in the area. A basin is an region in the deep subsurface with a high accumulation of sedimentary rocks. These sediments in general contain dead plants and animals – also known as organic material – that were deposited million of years ago. Some of the organic material has been put under enough pressure and been exposed to high enough temperatures to be converted into hydrocarbons, including oil and gas. This oil and gas has since migrated from the basins, but we will get back to that later. For the time being, you are being asked to identify the basins in the area, so that you know where the oil and gas came from. The way you do it is through buying and studying of magnetic and gravimetric surveys. When you think you have identified where the three basins are, you enter three different coordinates – one column and row for each basin centre – on the form on the home page. It should be noted that you shall enter coordinates – and not blocks – and that the coordinates you enter here are only the basin centres – and not the place you will search for oil and gas in.
  8. One of the two types of surveys are the gravimetric surveys. Gravimetric surveys show how the gravity differs over the area, and are – as the magnetic surveys – carried out by aeroplanes with sensitive measuring devices. The reason gravity is not the same all over is that the rocks in the subsurface are not the same. Different types of rocks give different gravity pulls, and more specifically the sedimentary rocks in basins are not so dense as the surrounding crystalline rocks. Therefore, the lower the gravity pull, the higher the probability that there is a basin below, and vice versa.
  9. Magnetic surveys show similar information as gravimetric surveys, and are carried out the same way. The sedimentary rocks in the basins have a lower concentration of magnetic materials than the surrounding crystalline rocks. Thus the sedimentary basins are the areas with the lowest magnetic field.
  10. Due to the natural variation between the magnetic and gravimetric characteristics of the structure, the centre location may vary. The task is then to identify the average centre, by interpolation of the different centres. Calculate the average centre, as the average centre between the gravimetric and magnetic centre: Average Row no = Row no of magnetic + Row no of gravimetric, divided by 2 Average Column no = Column no of magnetic + Column no of gravimetric, divided by 2 The average centre will then show in the middle.
  11. Once the simulation has been unpaused, you will receive a Notification in your mailbox, on the left-handside of the homepage. In the notification, you can see the basin coordinates chosen by each team and the number of knowledge points awarded to each team, based upon their submitted answers. If you look at the cell coordinates of one of the teams that was awarded close to 100 points, then you can see what the correct answers were.
  12. Oil and gas is likely to be found close to these identified sedimentary basins. The next step is the First licensing round, where exploration licenses for blocks situated in one of these basins are being offered by the Government. Each team will be able to make bids for particular blocks. A block is a geographically two-dimensionally delimited area of the earths surface, assigned by the government. Your task now is to identify three blocks that your team believes to have the best prospects and submit license bids to the Government for them. To evaluate the blocks potential, you must identify if it has any pockets of hydrocarbons, and determine if there are any circumstances that would prohibit or limit the possibilities of exploration of the blocks resources. Your offer for the block must be wise. If it is too low, someone else may get it. If too high, you waste valuable cash, compared to the potential yield from the block.
  13. This slide illustrates the relationship between the sedimentary basins you identified in the first task and the prospects which you will encounter in the second task. Oil and gas form as the result of a precise sequence of environmental conditions: The presence of organic material – like plants, algae and bacteria Organic remains being trapped and preserved in sediment The material is buried deeply and then slowly "cooked" by increased temperature and pressure. Rocks containing sufficient organic substances to generate oil and gas in this way are known as source rocks . Once it has formed, oil and gas moves away (migrates) from the source rock. This movement happens for two reasons. First the oil and gas expand to take up more room than the original organic matter therefore their pressure on the rock increases and they try to escape. Second, being less dense than the surrounding rock and water, they tend to rise upwards. The oil is held in pores of the rock and continue to rise upwards until it reaches the surface or a layer of impermeable rock (cap rock) and is trapped. A prospect is a subsurface structure that is likely to contain hydrocarbons, where There is a source rock , where the original oil or gas was generated. Porous migration rock allowing the hydrocarbons to move into the prospect A porous reservoir rock in which the oil and gas is held and An impermeable cap rock that traps the oil and gas in place
  14. There are many types of traps formed by rock formations: The most common type of trap and the ones found in OilSim are Four-Way Closure Trap, a type of anticline trap that occur within the same layer which has been pushed up into an arch but where the hydrocarbons are stopped from migrating further upwards due to the cap rock. Fault traps are created where layers of rock slide up against each other and contain permeable and impermeable rock. The oil migrating through the impermeable rock is cut off by an impermeable layer and trapped against the fault. Stratigraphic traps kee p hydrocarbons in place due to changes in the rock type or sedimentary features of the area and an uneven distribution of formations. Salt Dome traps enable hydrocarbons to aggregate into pockets on both sides of the dome as stratigraphic traps, as well as above the dome as an anticline s trap.
  15. Spawning grounds are fish breeding grounds, and therefore very sensitive to any pollution, derived from oil and gas exploration and production. In the real world, licenses are still offered where spawning grounds exist, but exploration and production activities are limited to times of the year when the fish are not breeding. However, in the OilSim simulation the Spawning Ground Survey covers the whole map and the red areas are spawning grounds and licenses WILL NOT be awarded for blocks that contain a red area. Even if a block contains only a very small red area the license will not be awarded. So looking at this map, if you submitted blocks 88 and 102 as 2 of your choices, neither of this blocks would be awarded licenses.
  16. Since the CRS show the probabilities of prospects in only one particular horizon or layer, it is necessary to purchase the CRS for all 3 layers so that you can determine which area within the licensing area contains the highest probability of containing oil and gas. So on the CRS maps shown here the area circled in black on the OilSim map and each of the CRS shows that the area in question is within the licensing area and is green on all three CRS layers, indicating high probability of oil and gas on all 3 layers within the same area or blocks. Potentially an area that requires further investigation for individual prospects.
  17. Geophysicists use the physical characteristics of rocks, their magnetic and gravitational properties and how sound waves travel through different kinds of rocks to help understand the structures below the Earth's surface. Survey ships and aircraft collect data and produce gravimetric, magnetic and 2d seismic surveys. Using different techniques allows scientists to locate particular rock formations that might contain trapped oil, including the 2d seismics which can help locate the traps. 2d seismic surveys in real life are available in rows and columns within a geographical area, following the path travelled by the ship or aircraft collecting the data. In OilSim the seismic information also follows the rows and columns, but is only available for every second row and column.
  18. There are 3 types of data available when you order Seismic surveys in OilSim. Unprocessed data, is the raw data that is available fairly soon after the seismic providors have done the surveys Processed data gives you more information about the geological layers in the ground Interpreted date has been interpreted by geologists. These surveys identify the sealing and reservoir rocks, and possible fault lines in the geological structure. The traps in OilSim are either: anticlinal fault traps
  19. Try and find at least 5 prospects in the block that you are going to bid for. In this example the yellow circles show prospects for block 547. The reason that 4 areas have been marked is that the green line (reservoir rock) makes a “peak” and there is a sealing rock (the red line) above them making sure that the oil and/or gas doesn’t migrate to an other area.
  20. To buy surveys, click on survey tab and then order the Seismic surveys from the survey shop. After you’ve clicked “buy” this screen will appear. The yellow box over the map allows you to buy all the seismic data for those particular blocks. So click and hold and move the box to the area you wish to purchase. Choose what area you want to buy. Decide if you want columns or rows Choose if you want processed or unprocessed surveys. Processed data takes more of your time, but you get better data Choose interpreted or uninterpreted data. Intrpretede data takes more of your time, but you get better data. Then order batch, The price of the order will change depending upon your requests and the data type you want.
  21. When the “batch process” has reached 100% the process is finished. You’ll then be able to view the batch you bought in the centre of the page. The red circles on this slide are navigation buttons and allow you to see all your 2D seismic in small icons. To focus on one specific 2D seismic, click on that icon.
  22. However, you must remember that you are looking for the ”four-way trap”, so you need to ensure that the peaks or bumps line up on both the column and row, where they intersect. In this slide you can see that a 2D seismic survey for a Column and also one for a Row. Now where they cross, or intersect there needs to be peaks, it is only then that there is likely to be a trap.
  23. So lets recap on the things you need to do to solve this task wisely and give you the highest probability finding prospects. First – buy and review the spawning ground map to check which blocks you should completely avoid Secondly - buy all three CRS surveys ato study these closely to find out which blocks have the highest probability of prospects Thirdly – Buy and assess lots of 2D seismic surveys in order to identify particular blocks where there appear to be four-way traps and therefore the highest number of prospects. Finally – consider your preferences and reviewing the water depths of the blocks, since those with shallow water will be cheaper to drill in and therefore more economically viable in the long run from a production point of view.
  24. When the deadline has passed each team has one exploration teams. You can see a summary of the licensing round in a message in the Mailbox. There you can see who got which blocks for what amount, which blocks all the teams bid for, and how many credibility points each team got
  25. Gentlemen, hold your horses! Exploration Drilling is not about going drilling into the ground. It is about careful planning the drilling operation , and foremost to spread the costs and risks involved upon many shoulders. Thus farm-outs are imperative activities before drilling itself can be conducted.
  26. You need to buy and study 3D seismic interpretation in order to find out where to drill. Each 3D seismic interpretation shows the geological structure for one horizon of one of the license blocks. What you should look out for is four-way closure structural traps, as these are the only traps in OilSim.
  27. Farm-in and out is about spreading the risk, thus basic risk management must be applied: Risk Sharing.
  28. When reviewing a farm-out offer you can either accept the amount or % the license owner requests, or amend the amounts to your own offer. Add a message to the seller explaining why they should choose your team and press “Send offer”
  29. Financing – Is where a team is able to accept offers, and therefore receive money or “finance” for a % of their own blocks When a team receives a Farm-In offer it appears under financing on the right hand side of the homepage
  30. By clicking on this offer the team can then accept or reject the offer. A partnership is established every time a license owner accepts an offer. You can farm in and farm out at any time from now on, but you need to sell at least 20% to be allowed to start drilling in the block that you operate. Note, that you on the license tab can get an overview of the licenses that you operate, the licenses that you have invested in, and all the other licenses. You are not allowed to drill before at least 20% of your license has been farmed out.
  31. 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 Remember you must have farmed-out 20% of your own block before you can drill.
  32. When you have entered a partnership, you will pay your share of all future costs in the license. This includes your share of all exploration wells that are drilled. On the other hand, you will receive your share of the net value of any oil or gas that is found in the license. If you own 20% of a license you pay 20% of all costs, and you receive 20% of all license values. Even if there are other owners, it is the operator team that takes all decisions regarding acquirement of 3D seismic, drilling of wells, and testing of wells. When you are a partner in a license block, you get all information about the discovered oil and gas fields A team can farm-out up to 70% of each licence, but must keep 30%.
  33. Before you begin to drill you need to know the water depth so that you choose the right type of rig. You can find this information by clicking on your block and scrolling to the bottom of the screen where a map of the whole block’s water depths are shown. By scrolling over each cell you can see the water depth for each particular cell.
  34. The next task is to choose which rig to use to drill the exploration well, but you will need to know how deep the water is in the area you wish to drill, so check out the water depths under your block information. There are three types of rigs: jack-up rigs for shallow waters, semi-submersible rigs for middle waters and drillships for the deepest waters. The rigs have different costs per day, and the drilling days depend on how deep you drill into the subsurface and which service providers you choose Few: limited number of rigs available. If you get one: start using it within 20 minutes. If you don’t: wait in a queue, if another team is using the rig. Price can change: rig day rates are dynamic.
  35. Rig service providers are needed to operate the rig properly. Analysis, Shore base, Vessels, Well Services, Airways High-star-providers are expensive, but you may be more sure that the operation wil be smooth. Avoid though to use expensive providers everytime, as you will run out of money too soon. Medium-star-providers are medium-priced, as the risk involved are a bit higher than with the expensive ones. Few-star-providers are low-priced, and may be a good choice when you shall drill many and non-critical wells.
  36. Before you choose where to drill you should buy an Environmental Impact Assessment (EIA) survey to get more knowledge about the area. The benefit of an EIA survey is that you will be prepared for any environmental challenges you might encounter when drilling. With an EIA survey you will have lesser probability for drilling problems, and the extra costs will be less. Also, in the EIA survey you can see which drilling locations you should avoid. Some areas in your block are challenging to drill in. This can be because of strong currents, adverse conditions on the seabed or other local conditions. When you drill in those locations your costs go up 20%. You can see these locations in the EIA survey. You only have to buy one EIA survey for each license that you operate. You can find the EIA surveys under Surveys.
  37. Place your drill string on a green cell. Red cells cost 10% more to drill in, because of the problems/obstacles on the seabed.
  38. As this figure illustrates, you can drill through all three horizons in one well. You can even drill a deviated well, so that the position is not exactly the same in all horizons. The deviation can be 1 cell for each horizon.
  39. To determine how long it will probably take to complete drilling, check out the “drilling Information” tab.
  40. Inputting estimated cost of drilling gives you credibility points. You need to add all the costs of the rig and the service providers together and multiply this by the number of days you think it will take you to drill. The oil spill control is voluntary but costs 5% of the drilling amount per day but will earn you more knowledge points and cost you less to clear an oil spill if it happens. The oil spill control acts as a gas blow-out preventer too.
  41. Drilling is instantaneous in OilSim and this is an example of how the drilling results might look like: In this particular case the well was drilled through all three layers (horizons). Gas was found in the deepest layers, while no prospect was found in the topmost and middle layers. The area of the gas find is estimated to be between 1 and 9.4 square kilometers. The thickness of the field is estimated to be between 103 and 290 meters. The quality on a scale from 0 to 10 is estimated to be between 1.8 and 6.1. These three variables – area, thickness, and quality – together give a volume range of between 8 million and 674 million barrels of oil equivalent, MBOE. The 674 MBOE is what is possible with 10% probability, while the 8 MBOE is what is PROVEN. It is only the proven volume of 8 MBOE that we can use in the calculations of economic viability. Only if you discover a field – find Oil or Gas You decide whether you want more information about that field More information by doing a production test (and other tests) Tests costs. Tests take 10 days per field. Tests have the same day-rate as the drilling if you use the same providers.
  42. Cost $100000
  43. When you have drilled the first well, you only have a small sample of the new-found oil or gas field. This is evident by the wide ranges of the area, thickness, quality, and volume variables. These wide ranges tell you that you actually do not know much about the field. After drilling and testing, your next step therefore is to drill another well – and test it. This is called an appraisal well. Normally it takes at least three or four wells into a field before the license block becomes economically viable. Sometimes it takes much more, and therefore you should not give up if the first wells into a field do not give any license value. However, you should give up if the upper boundaries of the field become so low that there is no chance that it becomes economically viable. This is often the case in deep-water blocks, where the CAPEX are very high.
  44. Here you can see an example of how the volume range narrows for each test and each well
  45. If you run out of cash, you can apply for more money from the headquarters. This is done through Apply for more funds on the menu to the left.