Petroleum reserves

The complete paper outlines some of the challenges involved in late-life field management and how Reserves assessment may be affected.
During the past decade, hundreds of unconventional oil and gas projects have failed to deliver the value sought by shareholders.
Even without the black swan event of COVID-19, the industry must critically examine the technical, commercial, and operational bases of the projects it proposes and executes. A logical, reasonable, ethical, and philosophical approach is critical to underpin good decision making and value creation.

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