Geostream Assets Management

The main activities of the company:

  • - audit of reserves and technical and economic assessment of the effectiveness of investments in oil production;
  • - valuation of oil and gas companies based on the calculation of discounted cash flow from the development of hydrocarbon reserves;
  • - due diligence and support for oil and gas asset purchase and sale transactions;
  • - production audit of long-term production programs for field development in order to attract project financing and restructure bank loans;
  • - monitoring the implementation of approved plans for the development of deposits;
  • - development and optimization of short-term and medium-term business plans for companies to improve operational efficiency;
  • - consulting and support for field development projects in the early stages of field development and exploration.

The company's clients

 

Certified auditors

About the company

Company mission

Providing services to financial institutions and oil and gas companies in the field of hydrocarbon reserve assessment, production programs and business plans for the development of hydrocarbon fields, support for project financing projects and transactions for the purchase and sale of oil and gas assets.

the purpose of the company

Be a key player in the provision of production audit services in the interests of banks, investment funds and oil and gas companies in the Russian Federation and the CIS.

COMPETITIVE ADVANTAGES

    GEOSTREAM is part of a Group of Companies united by common shareholders (NIPI-R, GridPoint Dynamics), which focus on the development of innovative software products in the field of assessment, interpretation of geological data, certified engineers for the design of oil and gas fields, highly qualified managers in the field of management of development processes, drilling and field development, as well as experience in risk management and crisis management of enterprises during the development of hydrocarbon deposits.


Our Team

A combination of work experience in:

  • scientific and design organizations for the design and development of deposits;
  • the largest Russian oil and gas companies, Companies with foreign participation, and foreign projects;
  • the largest Russian and international service companies for seismic exploration, drilling and field maintenance.

Experience in the field:

  • Audit and assessment of reserves, production programs and business plans of oil and gas companies, infrastructure facilities of the oil and gas complex;
  • Planning of development and development of deposits at all cycles of their devel;
  • Communication with credit and financial institutions in the organization of project financing or M&A transactions.

 

We employ specialists in the field of:

  • interpretation of seismic data;
  • geology;
  • development of oil and gas fields;
  • technologies of extraction and treatment of hydrocarbons, development of oil and gas fields;
  • drilling wells and increasing oil recovery;
  • economics of oil and gas field development;
  • assessment and risk management in the implementation of projects for the development of hydrocarbon deposits;
  • conducting DD and M&A transaction support.

 

Audit

Tasks to be solved during complex audits:

  • Probabilistic assessment of field reserves;
  • Estimation of the present value of resources (EMV project) of promising structures;
  • Forecast of production profiles for 3 scenarios (R-90, R-50, R-10);
  • Assessment of capital investments in field development (on development and financing);
  • Estimation of operating expenses by main cost items;
  • Forecast of tax payments;
  • Construction of a FEM for the development of a project for the development of hydrocarbon deposits;
  • Forecast of discounted cash flow, inventory cost;
  • Assessment of licensing, geological, production, infrastructural, organizational, and commercial risks during field development and project implementation;
  • Assessment of the competence of key project contractors;
  • Analysis of the contractual framework;
  • Analysis of project and permit documentation;
  • Assessment of the company's organizational structure and management team.

 

 

Comprehensive Audit - Geology and Field Development

  • Performing a probabilistic assessment of hydrocarbon reserves in the R-90, R-50, and R-10 categories;
  • Forecast of oil, gas, and condensate production levels according to 3 scenarios P-90, P-50, and P-10;
  • Performing a probabilistic assessment of hydrocarbon resources prepared by seismic exploration of promising structures;
  • Assessment of geological risks and the probability of success of the discovery of hydrocarbon reserves based on the results of drilling exploration wells (according to the 5-factor model);
  • Assessment of the EMV - present value of prospective structures in order to substantiate the economic feasibility of drilling 1 exploration wells on them according to international standards (Rose& methodology).

 


 

Comprehensive Audit – САРЕХ & ОРЕХ

Assessment of capital investments in:
  • drilling and development of new wells;
  • construction of linear structures (oil pipelines, gas pipelines);
  • construction of on-site facilities for the preparation, transshipment, and processing of HC;
  • construction of energy facilities (power transmission lines, etc.);
  • maintenance of existing infrastructure;
  • purchase of UNTSO.
Justification of the accuracy class of the KV assessment and the range of uncertainty in accordance with the stage of Project development;
Analysis of infrastructure constraints and assessment of necessary additional investments in infrastructure expansion in accordance with estimated forecast profiles of hydrocarbon production;
Analysis of the realism of the network schedule for the development and development of the Project deposits;
Estimation of operating expenses by main cost items in accordance with the organizational structure of the enterprise and the model of interaction with Contractors.

 


 

Comprehensive Audit - Economics and Risks of the Project

Preparation of a financial and economic model for project development
Based on production profiles, capital and operating costs, the structure of hydrocarbon reserves, macroparameters (hydrocarbon sales prices, exchange rates...), the implementation of:
  • forecast for resource and other taxes,
  • calculation of the discounted cash flow for the Project
Assessment of the sensitivity of discounted cash flow to deviations in production, capex, and operating costs;
Building a matrix of the main risks (industrial, geological, organizational, commercial, infrastructural) according to the degree of:
  • the impact of risk on the Project,
  • the probability of risk occurrence,
  • the manageability of risk by management
Development of recommendations for managing identified risks and reducing the negative impact of risks on Project performance.

 



 

Comprehensive audit - Permits, contractual framework and Key Contractors

Analysis of the implementation of license agreements;
Analysis of the availability of a complete set and quality of Project documentation;
Analysis of permits, including licenses, land allotments, permits from supervisory authorities, technical specifications for connecting 3 individuals and monopolies to the infrastructure;
Analysis of compliance with the regulations of the supervisory authorities;
Analysis of the contractual framework for the Project implementation, including contracts for the supply of equipment, drilling, construction, installation and commissioning, field maintenance and well repair, oilfield equipment, transportation services;
Analysis of maintenance and inspection of the condition of technological equipment of the onshore infrastructure and pipelines of deposits, assessment of the necessary costs for maintaining the infrastructure;
Analysis of qualifications and technical equipment of the main Contractors involved in the Project implementation;
Assessment of the management team for the Field Development Project management.

 

 


 

Comprehensive audit - Monitoring of Project implementation

Conducting regular monitoring on a semi-annual/annual basis on the implementation of the approved long-term Business plan of the Company and the FEM, key Milestones of the Project in the following areas:
  • Meeting oil, gas, and condensate production levels;
  • Ensuring the growth of reserves and the success of exploration;
  • Development and financing of capital investments;
  • Compliance with the Project implementation schedule and achievement of key Project milestones that significantly affect the main performance indicators of the Project (production, revenue, costs);
  • Operating expenses;
  • Obtaining the necessary permits;
  • Fulfillment of licensing obligations and design decisions on development;
  • Compliance with the actual and projected cost of construction facilities, contractual rates for major contracts;
  • Compliance of constructed facilities with design solutions;
  • Risk Management;
  • Clarification and adjustment of the long-term forecast (Business Plan and FEM) based on the analysis of the results (facts) of the previous period and changes in the Production Program by the subsurface user.

 

 


Company history

Geostream Assets Management (GAM) was established in July 2006. The founders of the company are a group of highly qualified specialists in the oil industry.

1989

As part of the first Soviet-American joint venture MD-SEIS, a group of feasibility studies for investments in the Russian oil industry has been established.

1991

MD-SEIS Consulting is being registered, and orders are beginning to arrive from Russian and foreign companies to develop feasibility studies for the creation of joint ventures. With the participation of MD-SEIS Consulting, INCONCO CJSC is being created on the basis of the Oil Field Development Department of the NizhnevartovskNIPIneft Institute in Nizhnevartovsk to conduct engineering and design work. The works are carried out on orders from the Nizhnevartovskneftegaz, Megionneftegaz, and Varioganneftegaz associations.

1994

INCONCO CJSC and MD-SEIS Consulting receive engineering and design work orders from major Russian and international oil companies – Lukoil, Yukos, Galgary Overseas, CONOCO, BRIDAS, SOCO, AGIP. Specialists from VNIIneft and VNIIOENG institutes are joining the company.

1997

INCONCO CJSC is being re-registered in Moscow as a private independent company. MD-SEIS Consulting specialists are joining INCONCO CJSC. The company's successful growth continues. The company's clients include ExxonMobil, SHELL, TNK BP, and others.

2000

Geostream Services Group, an independent engineering and consulting group of companies, is being created on the basis of INCONCO CJSC.

2005

Geostream Services Group LLC becomes an integrated service company. The Geostream Drilling drilling company and Geostream Assets Management company are being created as part of the company to audit oil and gas field reserves and monitor their development.

2008

Geostream Services Group LLC is becoming a shareholder of the largest American corporation Key Energy Services Inc. with an annual turnover of about 2 billion US dollars and more than 150 branches specializing in well services, with an office in Houston, Texas.

2013

Key Energy Services Inc. Corporation fully buys Geostream Services Group LLC. The company's management and a group of specialists from INCONCO CJSC are leaving Geostream Services Group LLC.

2015 - Present

Geostream Assets Management LLC is starting its work. The company is entering the market of services in the field of project financing, with Sberbank, VTB, and Gazprombank banks becoming key clients, in whose interests audits of long-term production programs and business plans for field development by companies such as "Gazpromneft-Messoyakha", "Rosneft", "Neftisa", "Russneft", "Forte-invest", "Severneftegazprom", "Gavrikovskoye", "Fest-oil", "Novy potok", "Nobel-oil", "Dulisma", "Sladkovsko-zarechnoye", "SANEG"

Projects

The most significant campaign projects over the past 10 years

  • Expert assessment of the correctness of oil production levels, capital investments and current oil production costs in the fields of Oil Company Neftisa and OOO NK Samara;
  • Expert assessment of oil reserves and forecast of technical and economic indicators for the development of Kolvaneft (Yuzhno-Osh and Severo-Yutymskoye) and Neftus (Yuzhno-Osh and Osokinskoye fields);
  • Provision of consulting services to support the development of deposits of the Caspian Gas Company LLC;
  • Independent assessment of oil, gas and liquefied gas reserves according to SPE/PRMS standards for four Volgogaz fields. The evaluation results were accepted by the London Stock Exchange.
  • Expert and analytical assessment of technical and economic indicators of oil field development at Mogutovsky, Vorontsovsky and Gremyachevsky license areas;
  • Analysis of the feasibility of long-term development plans for the Dulisminskoye oil and gas condensate field;
  • Provision of technical and economic consulting services to support the development of deposits by LLC Central Geological Company;
  • Conducting a technical examination of the production program of Messoyakhaneftegaz JSC, as part of the project financing of Gazprombank PJSC;
  • Technical consultant services in attracting long-term external financing for the development of the Yuzhno-Russian field by JSC Severneftegazprom;
  • Analysis of the technical validity of medium-term oil and gas production plans, planned capital and operating costs at the fields of of RN-Krasnodarneftegaz and NK Priazovneft;
  • Analysis of the technical validity of medium-term oil, gas and condensate production plans, planned capital costs at the fields of PJSC NK RussNeft;
  • Geological and engineering analysis of the validity and technical feasibility of hydrocarbon production in the volumes and deadlines stipulated in the SANEG Company's business plan and financial and economic model for 2024-2025.

Quality, certification and service safety

The Company employs the job quality management system providing for arrangement and effective management of performance of work, services, as well as company management. Creation of favorable and safe working conditions, personnel’s health and work capacity preservation, as well as performance of a set of measures for environmental protection are the key principles of the Company’s activity. LLC “Geostream Assets Management” strictly adheres to the requirements for safety and environmental protection of the Russian Federation laws and sticks to the requirements of ISO 14000 and OHSAS 18001 international standards. The management policy is focused on involvement of employees of all levels, so that safety culture and quality provision becomes an integral part of an employee’s day-to-day behavior at work and home.

Contacts

“Geostream Assets Management” address: