Oil companies are being forced to explore in geologically complex and remote areas to exploit more unconventional hydrocarbon deposits. New engineering technology has pushed the envelope of previous upstream experience. No guidebook existed on how computing methodologies can contribute to E&P performance at reduced risk. Until now. A new book
Principle 9: Risk management reports should communicate information in a clear and concise manner. Reports should be easy to understand yet comprehensive enough to facilitate informed decision-making. Reports should include meaningful information tailored to the needs of the recipients. While the data management and data aggregation principles have been heavily
Principle 7: Accuracy - Risk management reports should accurately and precisely convey aggregated risk data and reflect risk in an exact manner. Reports should be reconciled and validated. Successful demonstration of Principle 7 requires senior management to rely upon the information presented in risk reporting. Since forward-looking strategic decisions are
