Asset Management

Imola has a proven, rigorous process in place for identifying, evaluating, acquiring, operating and producing assets. The components of that process are as follows: 


Preliminary Evaluation

Target Selection

The determination of preferred high value targets is based on estimating hydrocarbon volume, assessing recoverable reserves, and then prioritizing development based on the projected net value to the company.

Reservoir Evaluation

In order to determine the optimum recovery rate of the target reservoir, a Reservoir Evaluation is completed, which provides a precise hydrocarbon volume estimate. After undergoing detailed petrophysical and geological analysis, the refined data is then integrated into a reservoir model, which is used to determine estimated production.

Market Evaluation

The projected marketplace value of the oil is determined using industry-leading software and services designed specifically to maximize revenue and wellhead netback. On-site analysis is used to provide precise quality and processing requirements. The data is then evaluated and compared to the market pricing in order to determine the economic viability of the project. The Imola Business Model provides for a predetermined drilling and completions risk factor. The risk factor is based on an industry study of drilling success rates and the natural petroleum decline curve.



Oilfield Development Plan

Reservoir, Production, and Facilities Design

After the reservoir is thoroughly analyzed and surveyed, a reservoir model is created. The data required at this stage of the process include seismic reports, stratigraphic drilling reports, logging reports, testing and coring results and fluid analysis studies. The latest simulation models and analysis software, which further mitigate exploration risk, are used to provide an informed estimate of the potentials for the reserves. Based on the results, the optimum exploitation and production approach is then determined.

Midstream and Downstream Strategy

The location of each oil well directly impacts the methods and costs of transporting the product to market. After completing a comprehensive study, a plan is created, which is focused on the economic benefit to the company, and is designed to ensure maximum wellhead netback.



Construction and Site Preparation

Well Location and Preparation

The well type, production technology, SCADA, drilling methods, and the instrumentation that is deployed all affect the revenue potential of each well site. Appropriate project management methodologies are critical to keeping the project on budget, on schedule, and within operational performance parameters.

Transport and Facilities Construction

Candian Oil Sands production requires all of the facilities and equipment found in a conventional light oil well sites, as well as additional requirements for viscosity reduction, thermal treatment systems waste and disposal facilities.



Operations and Production

Production Optimization

Production processes are constantly refined based on continual monitoring and interpretation of the points of measurement and analysis. Real-time information access enables the optimal decision to be made at the appropriate time. By focusing on enhanced recovery of the reservoir, more efficient management of the asset is possible, ensuring a longer and shallower decline curve.

The data is carefully harvested and inventoried, and is used to provide an ongoing and accurate valuation of the company and its assets, including production and the remaining life of the reservoir. The real-time data is also used to keep the reservoir model constantly updated.

Business Process Optimization

At all points of the process, from exploration to well site preparation, drilling, completions, and production, constant scrutiny will be maintained by a group of dedicated personnel focused on ensuring optimal quality, safety and efficiency of operations Contracts with leading service providers will provide additional insurance for successful long-term operations. These business agreements include financial, labor, quality standards, and Health, Safety, and Environment (HSE) standards.