Supporting a major Latin American national-oil company in maximizing the value of deep-water hydrocarbon resources Challenge The challenge was twofold: develop an understanding of the key challenges and risks that the client will face in the exploration and development phases of a critical project. develop a model to estimate risked reserves of potential development clusters, and to demonstrate potential value creation through business cases for different resource scenarios. Approach Firstly, we analyzed key drivers for the area to be considered in conceptualization of development options. Secondly, we developed a probabilistic Monte Carlo model to quantify scenarios of recoverable resources, based on geological knowledge and benchmarked analogous GOM deep-water projects, for cost, techn

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