Statoil Prognoses and Risk Evaluation

Based on the Powersim Studio software, an integrated simulation tool has been developed for Statoil. The solution generates production prognoses for selected oil and gas fields for internal as well as external purposes.

An example of an external purpose is the requirement for governmental reporting. For both internal and external purposes, the tool allows for risk evaluation of production figures.

 “Risk evaluation of production prognoses are commonly used within the oil and gas sector. What is unique with the Powersim Studio solution, is that uncertainties are considered an integral part of the prognosis work, not an activity applied after the base prognosis is established.”

Frank Fosse, Senior Advisor, Statoil

The Powersim based tool makes the process of establishing the prognoses both safer and less resource demanding for Statoil.

Keywords about the solution

This project was developed using Powersim Studio Premium and is a solution that is integrated with the customer's database systems. The user group in the company uses Powersim Studio Executive to assist with performing risk analyses and creating reports.

 

Business Simulation Team Collaboration Modeling Connectivity Distribution
Risk analysis & simulation  Model is built using Components Extensive use of Series Variables Connection to Databases Studio Premium & Executive

 


About Statoil:

Statoil is an international energy company with operations in 36 countries. Building on 40 years of experience from oil and gas production on the Norwegian continental shelf, Statoil are committed to accommodating the world's energy needs in a responsible manner, applying technology and creating innovative business solutions. Statoil are headquartered in Norway with approx. 21,000 employees worldwide, and are listed on the New York and Oslo stock exchanges.

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