Integrated play and prospect assessment (Hood and Stabell, 2006) is designed to leverage the respective strengths of play-level assessment of Yet-To-Find (YTF) potential and more detailed prospect-level assessment of risks and resources. A successful marriage of the two approaches can maximize the application of both regional context and local detail. The combined approach provides a basis for more realistic and fit for purpose assessment of the value of concessions, blocks and areas of interest. When integrated in a common methodology and assessment framework, play assessment can provide a direct reality check of prospect assessment while anchoring regional assessments with data from calibration areas with mapped and assessed leads or prospects. Finally, the integrated approach provides a sound basis for learning from experience and rapid assimilation of new data as plays and prospects are matured and played out(Hood and Stabell, 2006).
The foundation for integrated play-prospect assessment is a feature-based approach to play assessment where we consider both mapped and assessed features (prospects) as well as postulated features. Assessment of the YTF potential in postulated features requires consistent counting, sizing and risking of the features. The approach requires a common map-based (GIS) analysis framework where assessed and postulated features are positioned in their regional context. Integration of plays and prospects is based on using a common database with both play and prospect analyses. The analytical foundation is a flexible and comprehensive stochastic assessment engine. This engine is used to assess individual play and prospect units. It is also used to aggregate the assessments over play fairways, blocks, concessions or areas of interest -- while honoring all risk and volume dependencies.
In this paper we present an application of the integrated play-prospect assessment methodology to a set of frontier plays in the North Falkland Basin. Current license holders have identified and assessed a number of relatively large potential accumulations in some of the plays in the basin. However, significant areas have very limited data. One of the main challenges for an integrated assessment of play and prospect potential is generating estimates of potential smaller fields that have not been counted systematically due to uneven and coarse data resolution. Another challenge is to capture the potential of stacked plays. The application presents how we can use effectively both analog data and data from small calibration areas in the basin.