Project Finance Certifications

Netherland Sewell has worked on some of the most technically challenging projects in the world and has delivered thousands of reserves reports to petroleum and financial concerns around the globe. We are frequently selected by companies to certify their reserves in preparation to finance a major project, and often serve in the role of advisor to lending institutions including commercial banks, credit export agencies, and credit rating agencies. We apply our experience and judgment in conducting thorough evaluations to ensure that the oil and gas reserves and deliverability are adequate to support the financing commitment required for the project. Users of our reports have learned that each aspect of an NSAI evaluation is solidly supported.

We are committed to delivering reliable results.

To talk to an expert regarding a Project Finance certification please call either Joe Spellman in our Dallas office at 214-969-5401 or Lee George in our Houston office at 713-654-4950, or click here for an on-line option.

Listed below are a few projects to illustrate our experience:
  • Conducted several project finance reserves certifications in Qatar for LNG projects including the Qatargas 3 and Qatargas 2 LNG Projects and the RasGas Train 1&2, Train 3, and Train 4 Developments. Have performed reserves studies and advised lenders on several other major Qatar projects including the QChem and NGL 4 Projects.
  • Conducted a comprehensive reserves certification of the Azeri-Chirag-Deepwater Gunashli (ACG) field complex located in the South Caspian Sea to support financing of the multi-phase field development and the construction of the 1 million barrel-per-day capacity Baku-Tbilisi-Ceyhan oil pipeline. Integrated geology, geophysics, petrophysics, and engineering analysis to estimate the original hydrocarbons-in-place for 7 targeted oil reservoirs. The study incorporated reservoir simulation and our understanding of the complex development plans to estimate the recoverable reserves and the associated production profiles for each of the various development phases. This study was conducted on behalf of the International Finance Corporation, the European Bank for Reconstruction and Development, a large consortium of financial institutions, and numerous government credit export agencies.
  • Performed a geophysical, geological, and engineering study of the 5-field Greater Gorgon Complex on the North West Shelf of Australia on behalf of Western Australia Pty. Ltd. for use in reserves certification for an LNG project. Included reservoir characterization using geo-statistical models for prediction of reservoir continuity and connectivity, statistical integration of multiple 3-D seismic attributes and well data to predict net sand distribution, and a probabilistic assessment of in-place gas volumes.
  • Performed reservoir engineering, geological, and geophysical studies of Kome, Bolobo, and Miandoum Fields located in the Doba Basin, Chad. Involved interpretation of a 575-square-kilometer 3-D seismic survey, petrophysical analysis, reservoir simulation, and estimation of reserves and production flowstreams for the development of these heavy oil fields. Work was conducted on behalf of the International Finance Corporation, The World Bank, U.S. Exim Bank, and the Exxon-operated consortium for funding of the field development and the 650-mile export pipeline.
  • Performed reservoir engineering, geological, and geophysical studies of 11 fields operated by Shell Production Development Company of Nigeria Limited, Elf Nigeria Limited, and Nigerian Agip Oil Company Limited, which will provide the gas supply for the Bonny LNG plant. Involved modeling of retrograde gas condensate reservoirs to estimate gas and liquid recoveries. Work was conducted on behalf of the International Finance Corporation.
  • Conducted a reserves certification of the Salawati Basin and Salawati Island Fields in northwest Irian Jaya, Indonesia, on behalf of ANZ Bank and Pearl Energy PTE Ltd. Included interpreting 3-D seismic data, incorporating well control and well test information in several carbonate reservoir fields, and performing deterministic and probabilistic reserves estimates. Analysis also included operations verification of required capital expenses and operating expenses.
  • Estimated oil reserves, reviewed project development plan, performed facilities audit, and coordinated environmental audit of the proposed Sakhalin II oil development project, offshore Russia, for the lenders including the Overseas Private Investment Corporation, The European Bank for Reconstruction and Development, and the Japan Bank for International Cooperation.
  • Performed engineering, geophysical, and geological evaluations of 34 fields to be dedicated to the Bolivia-to-Brazil Pipeline Project. Included estimates of proved, probable, and possible reserves; gas deliverability; and future revenue. Served on the management, finance, and technical committees along with The World Bank and the six participating companies.
  • Conducted a reserves certification of the Petrobras-operated Barracuda and Caratinga Fields in the Campos Basin, Brazil, for lenders financing the deepwater offshore field development. These 2 fields lie in 600 to 1,400 meter water depths and produce from up to 7 different Oligocene to Eocene age turbidite reservoirs. Work consisted of an independent volumetric evaluation to estimate the original oil-in-place and an engineering analysis incorporating reservoir simulation of the existing pilot production and the full field development plan to estimate the ultimate recoverable reserves in each of the reservoirs.