“Appraisal Challenge Follows Exploration Success”
led by John Marcou
Tuesday, 25 June 2019
11:30 AM - 02:00 PM
Medco Energy, 20th Floor The Energy Tower SCBD
ABSTRACT
Congratulations! That exploration well you just drilled made a discovery. Now what?
Often, “now what” means field appraisal which entails technical, organizational, commercial, legal and regulatory issues.
Appraisal is a critical phase that requires taking expensive risks on par with exploration. And appraisal results can make a project, or break it as surely as an exploration dry hole.
But appraisal sits in a technical and organizational gray area, somewhere between geoscience-dominated exploration, and engineering-dominated development.
And that can create gaps (meaning dropping the ball) and redundancy (meaning turf-battles) that lead to expensive mistakes, instead of well-informed, quality decisions.
This discussion will touch on some aspects of appraisal including how appraisal fits into the stage-gate capital process, PRMS, the value of appraisal information, appraisal examples from Indonesia, and organizational approaches to appraisal.
Please plan to attend this Technical Discussion Group and bring along your own experience to add to the discussion.
About the Discussion Leader:
John Marcou is a Petroleum Engineer currently consulting to PT. MCX ASIA, a wholly-owned subsidiary of Mitsubishi Corporation. He broke into the oil patch with Schlumberger Offshore as a field engineer working the Gulf of Mexico back when deepwater was 300 feet and logs were run with panels. Later he joined ARCO Alaska, which led to some international assignments, and eventually joining ARCO Indonesia in 1993. Since then he has worked for a range of companies including ARCO/BP on Tangguh, Kodeco on West Madura Offshore and Poleng, Genting on the Kasuri block, PT. Donggi-Senoro LNG as Technical Director, Hess Corporation as Equus Technical Manager (Australia NWS), and Medco E&P Indonesia as SVP Technical Support. John has worked all phases of E&P but especially enjoys the early phases of discovery and growth which informs his interest and comments on appraisal.
John has an undergraduate degree in Mechanical Engineering from MIT and a graduate degree in Petroleum Engineering from Stanford. He has authored papers on reservoir, production operations and geothermal, served as a Technical Editor and Review Chairman for the SPE, been a judge and session chairman at some SPE and IPA events, and been on the Technical Program Committee for both the IPA and SPE.