PROEOR : Prioritize Opportunities for Enhanced Oil Recovery
A Software to help you in analyzing Enhanced Oil Recovery Methods
Features of PROEOR Software
PROEOR Provides you following features to solve your problems for EOR
- Secured access with respect to roles and designation as per your team structure
- Controlled formulas linking technical and commercial data with customizable variables by the authorized users
- Tailor-made modifications to list of cost heads (new equipment etc) and economic parameters (Hydrogen Blend, CO2 penalties etc) with the help of our expert team during and after implementation
- In-built features enabling “top-down” and “bottoms-up” collaborations for managing global macro-economic factors and values
- Flexible Unit of Measurements structure relevant to your “Global” organization, where countries and regions can choose their own units (MKS, FPS, SI and their suitable combinations) locally and still outputs are presented as per required corporate standards for comparing across the countries globally
- Effortless integration of lessons learnt with top-down and bottoms-up approaches in previous “Portfolio Review Campaign” for adoption in current campaigns
- Customizable Organizational structure for International Oil Companies and National Oil Companies to reflect their own corporate scenario
- Allows collaboration between IOCs and NOCs within shared oil-field concessions (To be developed)
- Smart Field Register with structural definition of its attributes (development theme, location etc.) allowing parameter-based segregation and aggregation of various fields.
- Well-defined and customizable Opportunity Realization Process (ORP) with visible stage-gate decisions
- Finalized version of time-stamped data captured allowing trace-back and learning
- Iterative process utilizing “freeze/unfreeze” of data input and output leading to finalization of field development cases within ORP
- Enables phase-wise approach for field development by incorporating learnings from earlier field phases and similar development cash-flows in recent past (to be developed)
- Forecast “at-completion” capital costs and future operate-stage expenses annually at field level rolling up to company/country/region/global levels with cost variance output available for analysis with on-screen drill down option to pin-point relevant source
- Enables closely controlling timeline of Portfolio Review Campaign with “Ball-in-Court” concept up to individual person and organizational hierarchy (to be developed: use workflow screen in staging excel)
- Compare estimated costs as against actual costs for development projects & create a feedback loop for new developments
- At a glance visibility for discounted cash flows with ROI for selected fields to be taken for development
- During Operate stage, compare estimate vs actual revenues at regular time intervals with Return-on-Investment economic analysis.
Advantages
Advantages of PROEOR over traditional methods used by IOCs and NOCs
- Traditionally experts are utilizing excel spreadsheets which leads in to individualized results, prone manual error and risk of drastic mistakes, deviation from organizational norms, without verified formulas
- Enterprise view of actual investments, expected ROI, cost variance, actual revenue
- Process of maturing cost templates
- Controlled global and local cost metrics from HO to local field level cost considerations
- In excel – it is impossible to trace back the factors used for calculation output
- Estimation, actual costs and actual revenue gets captured in different / disconnected systems thus estimated costs, actual cost, estimated ROI, actual ROI cannot be compared. Also cost forecast with roll up from country to global HO allows preparing for anticipated cash flows.
- Controls, reviews and approvals can be automated
- Sensitive financial data deserves better protection
- Security of digital business data
- Calculation, controlling inputs as per HO, RO and Country, giving ability to find cost template versions used for any given calculation output.
- Expedites estimation by pointing “ball in court” person – where process is stuck – leading to accountability and responsibility
- Helps to create historical data bank which can be used for optimization for better cost and ROI simulation.
- Automatic knowledge capture and consistency across organization for cost input parameters.
- Data encryption adopted securing the sensitive data. (certification) TBD
- Access control ensures only authorized people can make changes and approvals. Each change and approval are time stamped for audit.
Why PROEOR ?
PROEOR will do the following analysis for helping you in Enhancing Oil Recovery ,and Optimize ROI:
- High level Cost & Revenue estimation without engineering effort
- Strategic divestment from non-performing assets
- Analyzing investment and profitability per oil field
- Prioritizing Oil Fields for investments
- Unlocking benefit of EOR technology deployment during Identify & Assess stage
- Cash flow management for EOR projects across the organization in terms of CAPEX and OPEX
- Revenue estimations and feedback with actual performance of the field
- Monitoring global portfolio for forecast and actual revenue by global entity including region, country and zones
- Continuous Improvement in estimation with respect to forecasted expenditures and revenues (ROI)
