iQx drilling cost and risk forecasting (P1) and well cost tracker (CT) help Sasol to discover and seize new efficiencies in their well planning and make faster, smarter and more collaborative decisions based on well data processed in suite of iQˣ™ applications.
Sasol chose iQˣ™ two applications to support key functions when pursuing their drilling activities in Mozambique:
P1™ – a probabilistic drilling cost & risk estimation software that rigorously assesses well cost and evaluates potential risks using Monte Carlo simulation approach
CT™ – an actual drilling time and cost tracker that offers transparency and forecasts over project expenditure, replacing traditional spreadsheets with cloud-based solution.
iQˣ™ central to estimating and tracking drilling cost and time
Since implementing iQx™ as a standard well engineering tool at Sasol’s drilling department, the Operator has enjoyed significantly improved cost and risk modelling in challenging operational conditions.
Sasol’s Mozambique Well Engineering Manager found iQx™ P1 and CT applications were important when scheduling and tracking actual field estimated well cost and time, describing them as “intuitive” for their ability to provide probabilistic and deterministic evaluations.
Wider drilling & well engineering expertise delivers additional value
The wider drilling engineering support by our Wells team was also seen as a key reason for Sasol choosing to work with AGR Software. Our client’s Well Engineering Manager was appreciative of the continuous improvement of these applications, along with the training and overall support delivered by our experts.
“While the projects are ongoing, we are delighted with the positive impact that iQx™ P1 and CT have delivered and will continue to achieve in this challenging drilling campaign”, said Sasol’s Well Engineering Manager.