Oil & gas consulting · Kazakhstan

Independent reserves evaluation and asset management for oil and gas

APetro Economics LLP delivers reserves audits to SPE-PRMS and KAZ-PRMS, field development plans, EOR studies, project economics and data-driven decision support — for operators, investors and auditors.

13+ reserves projects to SPE-PRMS8 fields in one portfolio audit7 disciplines on the team6 countries of project experience
Reserves evaluationProduction forecast · 1P / 2P / 3P
history forecast 05101520 Years Rate
1PProved2PProved + probable3P+ possible
What we do

Numbers an auditor, a bank and a board can all rely on

We work at the point where subsurface data turns into business decisions: how much is really in the ground, how best to produce it, what it is worth under the fiscal terms of the contract — and how to see all of it in the data every day.

13oil and gas projects with reserves calculated to SPE-PRMS
19operators and institutes in Kazakhstan served
8fields in a single portfolio data analysis and reserves audit
6countries: Kazakhstan, North Sea, France, Indonesia, Russia, Turkey
Track record

Companies we have worked with

Reserves evaluations, asset-management studies, training and expert opinions delivered to operators, national-company institutes and joint ventures in Kazakhstan.

NCOCTengizchevroil (TCO)KMG Kashagan B.V.KazMunayGas Research Institute (NII TDB)KazNIPImunaigasUzenmunaigasMangistaumunaigasKarazhanbasmunaiKazakhturkmunaiCaspimunaigasCaspiy NeftTurgai PetroleumPetroKazakhstanIntergas Central AsiaAmangeldy GasSouth OilBuzachi OperatingKazakhoilJV Arman
Services

Three practices, one project team

All services

Methods

Standard methods, applied rigorously

Every evaluation is traceable: the method, the assumptions and the data behind each number are documented so that the result stands up to an auditor, a lender or a regulator.

SPE-PRMSKAZ-PRMSVolumetric analysisDecline curve analysis (DCA)Material balanceProductivity modellingDeterministic and probabilistic approaches1P / 2P / 3P categorisationContingent and prospective resourcesFiscal regime and contract analysisCash-flow modelling and NPVProduction forecasting
Selected work

Projects we can talk about

A sample of recent engagements in Kazakhstan. Details of client-confidential work are shared under NDA.

Portfolio · 8 fields

Data analysis and reserves calculation to SPE-PRMS

Asar, Alatyube, Zhetybai, Kozhasai, Elemes Zapadny, Karatobe Yuzhnoye, Kalamkas, Alibekmola
  • Comprehensive data review across eight producing fields
  • Reserves calculated and categorised to SPE-PRMS
  • Consistent methodology and reporting across the portfolio
Kozhasai field

Asset management

Development stage and growth options
  • Determined the field's development stage
  • Identified potential for a reserves increase
  • Developed asset management plan variants: licence extension, production increase, capacity expansion
Kashagan field (NCOC)

Reserves evaluation and development analysis

Independent review of auditor assumptions
  • Production forecast generated
  • Identified potential differences between auditor assumptions affecting reserves evaluation results
  • Determined the causes of the existing difference in evaluation

All projects

Team

Seven disciplines, assembled per project

We operate on a project-administration basis: a project manager assembles the specialists each engagement needs. Every expert has more than ten years of practical experience in their discipline.

Geophysicist

Seismic interpretation, structural framework, trap and volume definition.

Petrophysicist

Log analysis, porosity, saturation and net-pay cut-offs.

Geologist

Depositional model, reservoir characterisation, static volumes.

Petroleum Engineer

Well performance, DCA, material balance, development planning.

Modelling Specialist

Static and dynamic models, history matching, production forecasts.

Economic Analyst

Fiscal terms, cash-flow models, NPV and sensitivity analysis.

Project Manager

Scope, schedule, quality control and the single point of contact.

Qualifications
  • PhD and MSc degrees from leading Western universities
  • MBA, Geneva Business School (Switzerland)
  • MSc, Texas A&M University (USA)
  • MSc, IFP School – Gubkin University (France / Russia)
  • BS, Middle East Technical University (Turkey)
  • More than 10 years of practical industry experience per expert
Experience

International practice, Kazakhstan focus

Our specialists have worked on projects in the North Sea, France, Indonesia, Russia, Turkey and Kazakhstan, and have supported reserves calculations for more than 13 major oil and gas projects according to international SPE-PRMS standards.

Training and seminars

We run professional training and seminars on reserves evaluation, SPE-PRMS / KAZ-PRMS classification and asset management for operator, institute and regulator teams — acknowledged by the Ministry of Energy, KazMunayGas, Turgai Petroleum, Caspiy Neft and the SPE Astana Section.

What we teach

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