Exploration Benchmarking Using Global Analogues to Establish the Potential of Two New Plays Offshore Uruguay

This study uses minimal prior information to place into context the exploration potential for two prospects that lack well information in the Pelotas and Punta del Este Basins using analogue benchmarking of individual prospects in the two primary plays.

These plays have been identified by prior work as the most likely to be successful and have prompted the only offshore drilling in recent years ( Rodriguez et al., 2019 ). The intent of this study is to place previous work that describes the hydrocarbon potential of offshore Uruguay in the context of similar prospects and plays worldwide.

Objective analogue analysis serves as quality assurance on the accuracy of technical predictions, including highlighting potential gaps, issues, and biases. This work summarizes findings from ongoing research to quantify predictions and outcomes on a parameter, volume, and uncertainty basis.

The workflow can be used in a variety of low-data situations to increase confidence in interpretation and decrease risk by narrowing uncertainty. This study demonstrates that methodical and critical application of analogues can quantitatively augment available data with information based on historical performance, instead of relying on subjective and qualitative individual and team experience of ostensibly similar analogues.