Early Development Assessment
| Control Point Name | Early Development Assessment |
|---|---|
| Owner | Front-End Development |
| Definition/Context (“What”) |
The Early Development Assessment describes the individual discipline and functional building blocks that are integrated to create a range of integrated development concepts (Subsurface, surface and wells) within a Competitive Solution Space. Through economic evaluation the Early Development Assessment transparently demonstrates which concepts and options meet the required affordability & competitiveness targets and agreed value based metrics (NPV, UDC, UTC). The robustness of the development concepts to different subsurface outcomes are transparently tested via the competitive solution space and the Value Cost Risk Trade off staircase providing insights into the viability of the opportunity, thus supporting any risk based decision to proceed to next phase or Stop. The Early Development Assessment captures the derisking strategy (E&A) that is required to reduce subsurface uncertainty to acceptable levels and the minimum data that is required to support development decision making for the viable development concepts. The Early Development Assessment prepares the TECOP summary that appraisal/study will address during the Assess Phase. As a minimum the Identify phase Early Development Assessment covers the following Project Standard Controls: |
| Purpose/Intent (“Why”) | The purpose of the Early Development Assessment is to demonstrate whether there is a likely path to profitability for the opportunity, and how robust the different development concepts are to different subsurface outcomes. It ensures that a robust Exploration & Appraisal strategy has been clearly thought through that will support strong Front End Loading and mitigate risks of poor project outcomes (delivers upon production promise and prevents Late Design Changes) through transparent data acquisition. |
| Standards | Project Standards |
| Phase(s) | Identify |
| Accountable for delivery | Front-End Development Manager |
| Guidance | Early Development Assessment |