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Bright spots

July 2005

Welcome to the July edition of Bright Spots, our monthly newsletter.

This edition includes:

Understand uncertainty with PetroScope

PetroScope, our economic modelling framework, now incorporates a Sensitivity Analysis Module. This Module enables users to model the variability and uncertainty found in parameters, such as production rates, exchange rates, hydrocarbon prices and expenditure that effect economic metrics, including Net Present Value (NPV) and the Internal Rate of Return (IRR).

Traditionally, parameters within a model are represented by a single ‘best guess’ value, which influences the user’s level of confidence in the results. In addition, some parameters have a greater impact on the results and it is, therefore, important to consider the sensitivity of each within any modelled scenario.

By automating the iterative process of varying the parameters required to create multiple scenarios, PetroScope helps users to gain greater insight into the uncertainties inherent in economic modelling. The Module significantly reduces the time and effort required to achieve this, producing results, ranked by their relative sensitivity, summarized in easy-to-interpret tabular and graphical formats.

For more information about PetroScope and the Sensitivity Analysis Module please visit our website.

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Gas strategy - learning Europe’s lessons

On 1 July 2005, Luiz Rocha and Mauro Andrade presented at the BritCham (British Chamber of Commerce – Energy Sector, Rio de Janeiro, Brazil) Gas Seminar.

The presentation reviewed the forces shaping the entire European gas value chain and Europe’s growing dependency on external gas sources. It concluded by analysing the issues and challenges of the European gas market and applying this knowledge to guide the development of the Southern cone of South America, to ensure a competitive gas market.

To view the presentation visit our website.

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PetroView additions

Sub-Saharan Africa
On 15 July 2005, the Mozambique second licensing round was launched by The Institute National Petroleum (INP) in London. The round is centered on the Rovuma Basin in Northern Mozambique and applications close on 31 July 2006.

Together with comprehensive data for the adjacent basins in Tanzania and Madagascar, all licence, well and basin data for the Mozambique round has been incorporated into PetroView.

The recent development of the Mnazi Bay gas field (600 Bcf) by the Artumas Group in Tanzania is also included.

North West Europe
The July release of PetroView North West Europe sees the addition of three new layers.

1. Fallow blocks 6th release (Jan-05): This table contains the fallow blocks 6th release as defined by the DTI.

2. Fallow discoveries 6th release (Jan-05): This table contains the fallow discoveries 6th release as defined by the DTI.

3. Fallow B rescued blocks 6th release (Jan-05): This table contains the fallow B rescued blocks 6th release as defined by the DTI.

These layers will be updated in PetroView in accordance with the DTI schedule. Further details can be found on the DTI's website.

For more information about PetroView visit our website.

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