The Risk€ analysis tool, offers decision support for economic uncertainty management in well planning and drilling activities. The results from a Risk€ analysis makes a good basis for an AFE approval.
The tool takes into account the well construction process, i.e. mobilisation of equipment, spudding, placement of BOP, drilling and abandonment. The tool handles both the standard operation plan and the risk operation plan which includes undesirable events that may occur. The operation plan is automatically generated based on user input and standards within well construction. The user has some possibility to affect the operation plan after auto-generation.
Input parameters for cost and duration are specified on different levels. Undesirable events are included using probability of occurrence and extra cost and duration specification. (see example of the inputs for the drilling phase) Within these restrictions, the tool enables analyses of case-specific well construction cost and duration and provides sensitivity analysis on different levels.