TALK: A New Method for Strategic Asset Characterisation & Risk Mitigation in Exploration

[Available on request]

Purpose of Method
To conduct a relative semi-quantitative assessment of subsurface Exploration projects through analysis, at multiple scales, of four key criteria – technical Risk, Difficulty, Effort and Uncertainty in order to provide a clear:
(i) Management-level overview through a graphical representation of relative technical risk between projects and degree of mitigation required
(ii) Breakdown of component technical risk, by function (e.g. workflow-discipline-asset team-company) or object (e.g. reservoir-well-field-asset-company)
(iii) Basis for selection of software, people and other resources that will maximise technical evaluation of the Exploration asset and thereby drive down risk, difficulty and uncertainty with minimum possible effort.

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