Oil Major
Problem: Investment Options
Our client needed to evaluate a range of options for exploring an untapped oil reserve. This project represented a billion dollar plus investment.
Description: Engineering & Political Uncertainty
Our client used SmithBayes to evaluate the engineering options for exploiting one of their oilfields; and whether, given the political, economic and technical uncertainties, it was worth running an 'early production' stage. Our client developed a range of smart objects in SmithBayes representing different engineering solutions and evaluated the optimal combination in terms of risk, return and timing using the simple drag and drop interface.
Outcome: Smarter Investments
SmithBayes enabled the our client to model the options faster and with a more visual display of the trade-offs. The objects themselves could be reused across the organisation to improve efficiency and communication.