UNIWE Executes Evaluation Standard for Oil and Gas Project

On May 1st 2018, UNIWE executes evaluation standard for oil and gas poject, including Technical & Economic Due Diligence Report for Oil and Gas Project and Preliminary Evaluation Report for Oil and Gas Project.

During M&A of oil and gas assets or investment in oil and gas exploration and development projects, preliminary evaluation report is the key document for decision support of project screening. The aim of standard of Preliminary Evaluation Report for Oil and Gas Project is to reveal key features of the oil and gas asset objectively and fairly during preliminary study, to provide decision support for detail due diligence or evaluation. Technical & Economic Due Diligence Report for Oil and Gas Project is the key document for decision support of oil and gas asset acquisition or investment. The aim of standard of Technical & Economic Due Diligence Report for Oil and Gas Project is to standardize process, control evaluation quality, reduce investment risk, provide objective and fair assessment report for oil and gas asset acquisition or investment decision.

Rich experience of worldwide project evaluation achieved by UNIWE in the last 10 years and international advanced technology were considered in the process. According to the public information available, this could be the first time to etablish standard for oil and gas asset acquisition evaluation report in China and only few large oil companies set the similar standard for internal usage in the world. This standard will be updated constantly along with technical progress, situation change of industry and accumulation of experience.