Improving the Exploration Process by Learning from the Past

Book excerpt: Learning by experience is both a part of the daily life and the exploration life. A systematic review of the past is essential to improve the exploration process by better managing risks and uncertainties. Learning through different disciplines has become a favoured technique. With new tools for interpretation and simulation, integration and data and the creation of cross-discipline teams, we can take major step forward in understanding the exploration task and its different elements.Global views and lessons learned on the Norwegian Continental Shelf on risk management and retrospective prospect assessment are presented in this book. Detailed exploration case histories from the Norwegian Continental Shelf documenting both positive and negative experiences and highlighting the benefits of integrated thinking and methods are presented. The impact of the application of various state-of-the art and developing technologies on portfolio management, opportunity evaluation and volumetric and risk assessment of prospects and discoveries are reviewed, and the future technological challenges in exploring the remaining hydrocarbon potential of the Norwegian continental Shelf are summarised.