How do we identify the best upstream farm-in opportunities?
EV² and PetroView® help a small IOC discover upstream farm-in opportunities and achieve first entry to previously unidentified block.
How can we help?
A small London-based IOC with a presence in North Africa wanted to evaluate new upstream opportunities with short lead times.
The company's business development team was tasked with screening oil prospects near existing infrastructure and identifying upstream farm-in opportunities in emerging basins within North Africa.
Our client used a combination of EV² and PetroView® to assess geological and economic prospectivity for licenced blocks, particularly those with active farm-ins.
Our tools helped the business development team filter their search for:
Basin type: only oil-prone basins
Infrastructure: basins with, or close to, existing infrastructure
Feasibility: blocks that already had licences and good yet-to-find potential
Accessibility: blocks operated by small IOCs that are known to look for partners before drilling, or blocks with active farm-ins
Metrics: yet-to-find oil volume and expected monetary value (EMV)
The business development team was able to identify which upstream farm-in opportunity in the region best met their specific requirements.
In addition, they discovered a block that was not an active farm-in. The company contacted the operator directly and negotiated first entry to the block.
Our tools saved time and resources during the screening process and gave the company a competitive edge.