Scope of Work
The Company’s Reservoir Management Team has previously placed a contract with a petroleum consultant to carry out a highly confidential pilot review (Phase 1) of the long-term producible hydrocarbon volumes potential of certain the company-administered hydrocarbon reservoirs.
The pilot review, which is an initial path-finding exercise involving only five (5) North reservoirs, which has been recently completed. The results to date from Phase 1 are sufficiently encouraging to support a move to Phase 2, which is the subject of this current proposed scope of Services.
Phase 2 involves the extension of the Phase 1 methodology to all of the conventional hydrocarbon reservoirs in the North Area. It will also require the incorporation of newly-emerging field test measurements of residual oil saturation which will occur during the period of the study and perhaps shortly afterwards.
