1. AKURASI DATA GEOLOGI, GEOFISIKA DAN TEKNOLOGI EKSPLORASI MELALUI PORTOFOLIO ANALISIS TERHADAP AKURASI PREDIKSI KEBERHASILAN DAN RISIKO PROYEK EKSPLORASI MINYAK DAN GAS BUMI.
- Author
-
Pujo Ponco P. A. and Paidi W. S.
- Abstract
Understanding subsurface geological risks is crucial for the success of the oil and gas industry. This study investigates the accuracy of geological, geophysical, and exploration technology data used for technical evaluation and decision-making in subsurface risk assessment (Pg) and its impact on predicting the success of oil and gas exploration projects at PHE Exploration. Using a case study from PHE Exploration SHU during the period of 2020-2022, portfolio analysis was conducted to evaluate the extent to which project success predictions reflect the accuracy of available data. Effective integration of geological and geophysical data in exploration analysis can improve the accuracy of project success predictions, enabling a more holistic interpretation and better understanding of subsurface structures. Leveraging advanced exploration technologies, such as advanced seismic data processing and reservoir modeling, can enhance prediction accuracy by providing more precise information about reservoir conditions. Standardization of subsurface risk assessments ensures consistency in data interpretation and minimizes ambiguity in risk assessment. This provides certainty in understanding subsurface conditions, which is fundamental in risk assessment and investment decision-making. Portfolio analysis using Pg and validated resource calculation data can predict drilling success rates. Analysis from 2018 to 2022 shows a significant improvement in predicting average success ratios, with accuracy between predicted and actual results reaching 80%, demonstrating the importance of standardization in risk assessment. The findings of this research have important implications for the oil and gas industry. Improving the accuracy ofgeological, geophysical, and exploration technology data will be crucial in optimizing the success of exploration projects in the future. Standardization of subsurface risk assessment is essential for improving prediction accuracy, thus assisting in making informed investment decisions. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF