Prediction of volumes and risk in hydrocarbon exploration: a quantification of geology

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The prediction of the hydrocarbon potential of a specific trap or of a number of specific traps (venture), referred to herein as prospect appraisal, concerns a probabilistic exercise based on the quantification of geology in terms of structural closure, reservoir quality, hydrocarbon charge, and the retention potential of the seal. Its objectives include: (a) prediction of the hydrocarbon volumes that could be present in the trap from an analysis of its geologic attributes; (b) the amount of uncertainty introduced in the volumetric prediction by the uncertainties in the subsurface geology; (c) the risk that one or more of the essential attributes of the prospect are underdeveloped and recoverable reserves are absent. The uncertainty of the geologic input requires a probabilistic approach, for which the Monte Carlo procedure is well suited.