<08-2000> Another important output of the CCOP

Another important output of the CCOP REP-2 Project is the CCOP guidelines for risk assessment of petroleum prospects.  It is also based on internationally recognized practices and will supplement Member Countries’ existing guidelines and at the same time provide reference and guidance to Members who are still planning to establish their own risking guidelines.

The CCOP guidelines have been prepared to aid in providing consistency and in promoting objectivity when the risking of petroleum prospects or plays are being performed using analytical tools such as Monte-Carlo simulation or stochastic calculation methods. It provides general procedures on how to perform risk assessment. In some cases, however, adjustments to the guidelines are necessary based on local geological knowledge on specific areas and in accordance to national requirements.

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