Risk€

Risk€ is a user-friendly tool which provides the user with means to analyze the uncertainty associated with well construction cost and duration. The results from a Risk€ study provides essential information for the planning stage, as well as assisting decision-makers in identifying cost and duration reducing measures. The tool has the potential to be used as a standard tool for estimation of well construction cost and duration.

THE BENEFITS FROM USE OF THE RISK€ TOOL ARE:

• Makes work processes more effective through:
  • Easy to do the calculation in-hose
  • Easy to automatically generate reports
  • Easy to systematize expert input
• Facilitates both internal and external communication:
  • Can be used for field-to-field comparison
  • Can be used for communication in a license setting
  • Easy to communicate to decision-makers
• Supports technical decisions:
  • Risk management in a cost perspective
  • Reduce costs and duration related to well construction