CGG, Woodmac team on EV2

Exploration Value tool combines geological knowledge base with commercial analytics.

CGG’s Robertson unit has teamed with Wood Mackenzie on ‘EV2,’ a new exploration valuation tool combining Robertson’s geological knowledge with Woodmac’s commercial analysis expertise. Both companies have decades of experience providing clients with proprietary databases of the world’s oil and gas fields, wells, subsurface data and analysis. EV2 provides analysis combining play risk assessment with Monte Carlo economic simulations. New venture specialists can rank exploration opportunities in terms of subsurface risk, volume and value potential to identify the best opportunities.

Sophie Zurquiyah, head of CGG’s geophysics and reservoir unit said, ‘Valuing acreage can be challenging as it requires extensive time and resources and global basin knowledge. EV2 brings rapid access to this information along with the risks, volumes and value of each block.

EV2 is delivered with data on ten ‘hot’ basins. The full package of 200 basins around the world will be released in phases through 2015 and 2016. Early adopters will have the opportunity to influence the final product’s development and roll-out.

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