Risk€ is a user-friendly tool which provides the user with means to analyze the uncertainty associated with well construction cost and duration. The results from a Risk€ study provides essential information for the planning stage, as well as assisting decision-makers in identifying cost and duration reducing measures. The tool has the potential to be used as a standard tool for estimation of well construction cost and

The benefits from use of the Risk€ tool are:

  • Makes work processes more effective through:
    • Easy to do the calculation in-hose
    • Easy to automatically generate reports
    • Easy to systematize expert input
  • Facilitates both internal and external communication:
    • Can be used for field-to-field comparison
    • Can be used for communication in a license setting
    • Easy to communicate to decision-makers
  • Supports technical decisions:
    • Risk management in a cost perspective
    • Reduce costs and duration related to well construction