Statoil Prognoses and Risk Evaluation

Based on the Powersim Studio software, an integrated simulation tool has been developed for Equinor. 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, Equinor

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

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 Equinor:

We’re Equinor, an international energy company with a proud history. Formerly Statoil, we are 20,000 committed colleagues developing oil, gas, wind and solar energy in more than 30 countries worldwide. We’re the largest operator in Norway, among the world’s largest offshore operators, and a growing force in renewables. Driven by our Nordic urge to explore beyond the horizon, and our dedication to safety, equality and sustainability, we’re building a global business on our values and the energy needs of the future.

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