75 INTERNATIONAL IHS | www.ihs.com E&P CONTRACT DATABASE With over 28,340 currently valid contracts and 37,550 historical ones, the IHS E&P Contract database is the only database that can go back more than a hundred years to reveal the real success of an area. From the application or award stage and to the expiry or relinquishment, every event of a contract life is recorded in the database, including changes of ownership, partial relinquishment, renewal, etc. Comprehensive contract details are also provided including: »» Upcoming renewal, partial relinquishment or expiry »» Financial, seismic or drilling commitments organized by exploration phases »» Various payments on signature, production, etc. »» Royalty rates »» Resource type and unconventional type »» Farm-in opportunities Raw data is received in varying formats and multiple languages from around the globe. Data is then analyzed, matched, standardized and transformed into the critical information captured in our databases by our experienced Regional teams. Throughout this process, in depth quality checks are performed including in-built data validations to ensure the most complete, correct, consistent and current E&P contract database available. To further improve the data quality on specific regions, countries or attributes, we have established Quality Goals and Data Quality Projects and we are continually striving to identify new data sources to increase our overall coverage and update our existing information. Our E&P contract data is used by a multitude of industry professionals for numerous purposes including new ventures, benchmarking, mergers and acquisitions. Recent Enhancements · More than 2,360 new contracts or applications were added to the database in 2013 and more than 27,750 were updated with new events or newly acquired data representing 42.1% of the database. · Introduction of a new attribute, Award Type, defining the award process for each contract (i.e. Bidding Round, Open Door, Government Direct Negotiation, etc). A project to populate this attribute is currently ongoing and will be completed during 2014. · Several Quality Projects were completed throughout 2013 including: »»Improving commitments completeness »»Renewal and expiry dates correctness and completeness improvement. »»Licensing round consistency improvement in North Sea, Australasia, Brazil, Frontier North America. · We have an ongoing Quality Goal which aims to enter more than 90% of contracts awarded as a result of a bidding round within 5 days of the public announcement. We are pleased to announce we have exceeded this goal with currently more than 93.2% entered within the defined timeframe. Evolution of East Africa concession situation between 2000 (left) and 2013 (right)
IHS Global Energy Information Review
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