Unitization is the joint development of a hydrocarbon reservoir which extends across two or more licence or contract areas (if the field is governed by a production sharing contract regime).  In order to ensure the efficient production of the reservoir and to maximise the economic recovery of petroleum from such licences of the contract areas. The net effect of this is that each licence group agrees that the licence or contract areas are aggregated as a “unit”, with each owner receiving a percentage interest in the unit (“unit interest”).

When a Unitization process is undertaken the assets involved need to be fully appraised in order for the owners to receive the appropriate interest in the unit.   Appraisal of assets requires incorporation of the latest data available into any existing models as well as a final resource evaluation according to industry standards.

After Unitization and the field is further developed Redetermination may be required.  A Redetermination will occur when new information (e.g. from survey data or drilling) on a Unitized field changes the resource split between its owners.  Performing a Redetermination requires a similar set of technical expertise as a Unitization.  If a Redetermination process does not satisfy all the owners then Syntillica can form an independent team of experts to take into account every perspective and build an agreed field-wide model. 

Depending on the data is made available, Syntillica can provide the right people with the right experience to fully update a resource evaluation.  Whether it is economic, engineering, facilities, environmental, geological or geophysical etc. Syntillica can apply its most suitable technical specialists organised using experienced project managers to the task. 

A comprehensive team can be coordinated quickly using the global reach and enterprise-strength IT systems Syntillica offers to efficiently and effectively reach a consensus on value.   Syntillica's experienced consultants are able to conduct asset evaluations according to industry standards (e.g. PRMS resource classification) for our clients. 

Without need for corporate management or office overheads, Syntillica is able to offer the real consulting Value Proposition of experienced consultant insight and critical analysis at highly competitive rates for these crucial activities. 

While each Transaction project can be different depending on the available data the following disciplines are most commonly required:

Data Management Services

Geology

Geophysics

Petrophysics

Reservoir Engineering

Petroleum Engineering

Facilities

Economics