Plan Evaluation
Commercial Viability
Because of the high number of potential variables in any heavy oil project, success depends on continuous evaluation and review. Long-term viability in heavy oil projects is the fundamental aspect to any proposed development, so it is important to conduct a full technical and commercial viability review of the design using inputs from the ongoing pilot.
Economic modeling
Software can enable economic modeling and evaluation of upstream oil and gas projects, providing the means to analyze risk, generate production forecasts, prepare customized reports, and perform sensitivity analysis.
Constraints
CO2, land use, water use and energy supply can all represent constraints to development, so plans should also consider these factors, balancing energy production with the environment. Transport of produced crude represents another challenge for which there are several solutions. To make the right choices investors must understand the constraints and variables. Plans should balance maximum value for resource owners with fair returns on commercial investment in the short and long term. Those with clearer and comprehensive plans are usually better able to measure their performance.
