New Techniques for Optimal Learning in Discovery Processes

Indeva today announced the development of new methodologies for optimal learning in discovery processes and in particular in their application to oil and gas decision-making and valuation.  The methodology combines the latest research in adaptive dynamic programming with Indeva's full cycle modelling capability to simulate the technical and knowledge processes.  The methodology simulates literally mllions of scenarios of an integrated exploration through to development and production, in order to determine the optimal policy that maximises expected value of a single of group of prospects and discoveries.


Indeva delivers Nova Scotia Model

 Indeva announced today, that they have provided the Nova Scotia Department of Energy with an updated exploration model, this is available in support of the latest exploraiton round and has recently been enhanced for deepwater developments in up to 3000 metres water depths.  The model is a screening model for exploration and appraisal projects in the Nova Scotia Offshore.  It is a fully integrated model that estimates exploration, drilling and development costs and schedule, develops production profiles and assesses royalties and federal and provincial taxes.  The model detemines the risked economics and is able to determine thrshold reserves and prices for any prospect.

The model is available freely on the


Indeva launches new Negotiation Model

Indeva today announced the launch of its new  Negotiation Model series.  

The first model in the series, the Strategy negotiation model has been proven for clients in high stakes negotiations to enable a party to investigate multiple alternative positions from its own perspective and from the perspective of the other party(s) to the negotiation.  

The model works on the assumption that while the parameters to a negotiation are fixed once agreed, the future outcomes are uncertain.  In an uncertain environment, each party will have different risk perspectives and preferences, it is the knowledge of these preferences that enables a set of negotiation parameters that adds value from both partys' perspective, and maximises benefits from the modeling party's perspective.

The model guides a negotiation process where the model is first used to determine the "Efficient Negotiation Frontier", and alternative opening positions can be examined in order to guide the process to a desired position.