1. Welcome to OilSim, Exploration and Production
Our simulation today is being used to give you a general overview and an Oil and Gas Exploration and Production company and how the parts within it function together.
The simulation is a very simplified version of the whole Upstream value chain, since we only have one day to show you the whole process. Also, TOTAL might do things a little differently in certain areas, but the intention is for you to appreciate the complexities of each area and to understand a little of what your colleagues do in departments outside your own.
For those of you who are geologists – you might find our 3d seismic to be very simplified compared with the analysis you do on a daily basis
For Construction or production engineers – the simplified process of determining the field development does not cover all the steps necessary
HOWEVER, the aim is NOT to make you all experts in every part of the Upstream industry but for you to see how all your individual jobs contribute to a larger process and just to give you an insight into the dynamics TOTAL faces each day

2. Login
This is how the screen looks like when you browse to the web site.
To enter the system, you need to enter your user name and your password, and then press the Return key on the keyboard.
You will get the user name and password from your teacher/facilitator.

3. Learning Cycle

4. Additional knowledge/skills
Environmental issues
Team work and negotiation
Critical decision making, analytical skills, multi-tasking
Learn through experience
Economically viable volumes- reducing uncertainty
Return on Investment
Function appreciation
how environmental issues are addressed,
how testing and appraisal wells reduce uncertainty,
and finally the whole concept of economically viable volumes, to find out when do you move beyond exploration and start producing the oil or gas.

5. Money and Credibility
You start with $250 million You can apply for more money later.
Create value Measured by the net value of the oil and gas fields discovered MINUS all costs involved.
Correct answers and sensible decisions are awarded with CPs
In order for your team to be able to start exploring, the headquarters have provided you with 200 million US dollars in virtual money.
You can spend this money on acquiring surveys, bidding for licenses, investing in other team’s licenses, and drilling wells.
If you run out of money, it is possible to apply for more money from the headquarters.
You have to be careful, however, that you do not accept too much money, because, as mentioned, you are being measured on the Return On Investment, or ROI.
The ROI is calculated as the value divided by the funds that you receive from the headquarters, so the more money you get, the harder it is to have a high ROI.
The value is calculated as the net present value of all the oil and gas fields that your team owns a share of – minus everything you spend.

6. Oil and Gas Value Chain Complete Value Chain Upstream
The long and bumpy road for oil from the underground to your tank, is called the oil and gas industry value chain.
The value chain is divided further into these parts:
Upstream is about getting the hydrocarbons up from the ground, and comprises of activities related to exploration, field development, construction, production and abandonment. By its nature, the exploration phase is common for both oil and gas, but soon afterwards, the oil and gas value chain will segregate into two parallel value chains.
Midstream is about transportation and storage, as well as oil refining and gas processing.
Downstream is about distribution and retail sales of gas, fuels and lubricants, plastics and other hydrocarbon derivatives to industrial and consumer markets.
OilSim Exploration is all about the exploration part of the oil and gas industry. Exploration is about finding the hydrocarbons and proving that they are in sufficient quantities to start producing.
OilSim Production is about actually taking the oil or gas out of the subsurface.
Upstream

7. Gravimetric data, Magnetic data
OilSim day 1
Task 2
Task 3
Task 1
Licence award,
spread risk-negotiations
Pre-concession work
1 st concession round
Gravimetric data, Magnetic data
Enviromental data,
Geological maps
2D seismic surveys
3D seismic maps
Today’s Challenges

8. Main screen Main screen overview
In the middle you can see the map again with a legend below. Later in the simulation the blocks in the map will have different colour codes depending on for example whether it is currently on offer or whether there has been found oil or gas there.
You can click on any block on the map and get more information about that block. There is not much information in these ”block pages” early in the simulation session, but these pages that describe each of the blocks become increasingly complex and comprehensive towards the end of the simulation.
In the middle of this page you can see a description of the current task with six fields to fill out before the deadline passes.
In the left hand side there is first a summary of the current standings. This includes your total value, the capital you have received from headquarters, the cash you have left, your return on investment, your rank among all the players in this simulation reality, and the credibility points that you have accumulated.
credibility points are awarded based on how well you solve the tasks within OilSim, and can be used when you ask for more money from the headquarters.
By clicking More you can review the accounts with all financial transactions.
Below the summary is a brief status, including the deadline for this task. Below the status are a number of simulation options, of which the first one (Home) is the most frequently used.
In the Mailbox you can read and send messages from and to your rivals, as well your headquarters and the ministry who awards the licences.
When you click Home you get back to the first page of OilSim, and it is a good advice to go back to the home page frequently.
You can also send applications to the headquarters for new funds for your exploration, but be prepared to answer some questions before you can get them to release the funds.
By clicking Teams you can see how the other teams are doing, and by clicking credibility you can get a list of the times you have gained or lost credibility points.
Below this there are a number of helpful texts for you, including a brief description of the simulation concept, the geology, partnerships, and a glossary.
The general structure of this page remains the same throughout the simulation.
The Chat room (if open) is where teams can send instant chat messages that all teams can see.

9. Gravimetric surveys
Gravimetric surveys show the gravity in the sub-surface. Measured by airborne sensors.
Sedimentary rocks have lower densities than the surrounding crystalline rocks. Low gravity means high probability of a basin below.
Low gravity are basins.
High gravity are crystalline rocks
One of the two types of surveys are the gravimetric surveys.
Gravimetric surveys show how the gravity differs over the area, and are – as the magnetic surveys – carried out by aeroplanes with sensitive measuring devices.
The reason gravity is not the same all over is that the rocks in the subsurface are not the same.
Different types of rocks give different gravity pulls, and more specifically the sedimentary rocks in basins are not so dense as the surrounding crystalline rocks.
Therefore, the lower the gravity pull, the higher the probability that there is a basin below, and vice versa.

10. First task
Challenge: Find three sedimentary basins in the area. Basins are sedimentary rocks in the deep subsurface where oil and gas has been generated.
Procedure: Buy and study magnetic and gravimetric surveys; and to submit the coordinates, column and row number for each basin centre.
Your first task is to identify the three basins that are in the area.
A basin is an region in the deep subsurface with a high accumulation of sedimentary rocks.
These sediments in general contain dead plants and animals – also known as organic material – that were deposited million of years ago.
Some of the organic material has been put under enough pressure and been exposed to high enough temperatures to be converted into hydrocarbons, including oil and gas.
This oil and gas has since migrated from the basins, but we will get back to that later. For the time being, you are being asked to identify the basins in the area, so that you know where the oil and gas came from.
The way you do it is through buying and studying of magnetic and gravimetric surveys.
When you think you have identified where the three basins are, you enter three different coordinates – one column and row for each basin centre – on the form on the home page.
It should be noted that you shall enter coordinates – and not blocks – and that the coordinates you enter here are only the basin centres – and not the place you will search for oil and gas in.

11. Gravimetric surveys Gravimetric survey: South-east quadrant
An example of a gravimetric quadrant survey
The red areas have the lowest gravitational pull. Thus the probability of finding hydrocarbons here is relatively high.
The yellow areas have low-to-medium gravitational pull. Thus the probability of finding hydrocarbons here is relatively high.
The green areas have medium gravitational pull. Thus the probability of finding hydrocarbons here is relatively medium.
The light blue areas have medium-to-high gravitational pull. Thus the probability of finding hydrocarbons here is relatively low.
The dark blue areas have highest gravitational pull. Thus the probability of finding hydrocarbons here is relatively low.
All in all, the basin areas are to be found around the Vilmikno areas. Thus our main focus will be in these areas in terms of oil and gas exploration.

12. Magnetic surveys
Magnetic surveys show similar information as gravimetric surveys. The sedimentary rocks in the basins have a lower concentration of magnetic materials than the surrounding crystalline rocks.
Sedimentary basins are the areas with the lowest magnetic field.
Basins have low magnetic field
Non-basins have high magnetic fields.
Magnetic surveys show similar information as gravimetric surveys, and are carried out the same way.
The sedimentary rocks in the basins have a lower concentration of magnetic materials than the surrounding crystalline rocks. Thus the sedimentary basins are the areas with the lowest magnetic field.

13. Magnetic Surveys Magnetic survey: North-west quadrant
An example of a magnetic survey quadrant map.
The purple areas have the lowest magnetic pull. Thus the probability of finding hydrocarbons here is relatively high.
The yellow areas have medium magnetic pull. Thus the probability of finding hydrocarbons here is relatively medium.
The light blue areas have highest magnetic pull. Thus the probability of finding hydrocarbons here is relatively low.
All in all, the basin areas are to be found around the Pikku Rahkaneva areas. Thus our main focus will be in these areas in terms of oil and gas exploration.

14. Centre may not be the same
Example:
Top basin on both maps
Calculate the midpoint between the gravimetric and magnetic centres found
= C55 and R105
C50
R100
C60
Due to the natural variation between the magnetic and gravimetric characteristics of the structure, the centre location may vary.
The task is then to identify the average centre, by interpolation of the different centres.
Calculate the average centre, as the average centre between the gravimetric and magnetic centre:
Average Row no = Row no of magnetic + Row no of gravimetric, divided by 2
Average Column no = Column no of magnetic + Column no of gravimetric, divided by 2
The average centre will then show in the middle.
R110

15. Finding the Midpoint

16. Centre Midpoint calculation
3 centres – one Centre midpoint for each basin
Example: C55, R105
Solve before deadline. All submissions are evaluated after the deadline (and not before).
You may get CPs. All three centres must be located to get full CPs.

17. Task 1 solved
All teams have submitted their answers. Basin centres are located.
Message in Inbox. All teams have answers and CPs awarded.
Once the simulation has been unpaused, you will receive a Notification in your mailbox, on the left-handside of the homepage.
In the notification, you can see the basin coordinates chosen by each team and the number of knowledge points awarded to each team, based upon their submitted answers.
If you look at the cell coordinates of one of the teams that was awarded close to 100 points, then you can see what the correct answers were.

18. Gravimetric data, Magnetic data
OilSim day 1
Task 2
Task 3
Task 1
Licence award,
spread risk-negotiations
Pre-concession work
1 st concession round
Gravimetric data, Magnetic data
Enviromental data,
Geological maps
2D seismic surveys
3D seismic maps
Today’s Challenges

19. Challenge 2 : license round
Sedimentary basins may contain oil and gas.
The government has decided to put the blocks around one of the basins on offer.
Challenge: Identify the 3 most promising blocks and offer an amount for each of them.
Oil and gas is likely to be found close to these identified sedimentary basins.
The next step is the First licensing round, where exploration licenses for blocks situated in one of these basins are being offered by the Government. Each team will be able to make bids for particular blocks.
A block is a geographically two-dimensionally delimited area of the earths surface, assigned by the government. Your task now is to identify three blocks that your team believes to have the best prospects and submit license bids to the Government for them.
To evaluate the blocks potential, you must identify if it has any pockets of hydrocarbons, and determine if there are any circumstances that would prohibit or limit the possibilities of exploration of the blocks resources.
Your offer for the block must be wise. If it is too low, someone else may get it. If too high, you waste valuable cash, compared to the potential yield from the block.

20. Source and migration 4. PROSPECT 2. MIGRATION ROCK
where hydrocarbons are driven through
This slide illustrates the relationship between the sedimentary basins you identified in the first task and the prospects which you will encounter in the second task.
Oil and gas form as the result of a precise sequence of environmental conditions:
The presence of organic material – like plants, algae and bacteria
Organic remains being trapped and preserved in sediment
The material is buried deeply and then slowly "cooked" by increased temperature and pressure.
Rocks containing sufficient organic substances to generate oil and gas in this way are known as source rocks.
Once it has formed, oil and gas moves away (migrates) from the source rock. This movement happens for two reasons. First the oil and gas expand to take up more room than the original organic matter therefore their pressure on the rock increases and they try to escape. Second, being less dense than the surrounding rock and water, they tend to rise upwards. The oil is held in pores of the rock and continue to rise upwards until it reaches the surface or a layer of impermeable rock (cap rock) and is trapped.
A prospect is a subsurface structure that is likely to contain hydrocarbons, where
There is a source rock , where the original oil or gas was generated.
Porous migration rock allowing the hydrocarbons to move into the prospect
A porous reservoir rock in which the oil and gas is held and
An impermeable cap rock that traps the oil and gas in place
3. CAP ROCK
Impermeable rock that stops migration of hydrocarbons
1. SOURCE ROCK
where organic material is put under sufficient pressure
4. PROSPECT

21. Traps
Geological “pockets”, that might contain hydrocarbons.
Anticline trap
(c) OLF
Stratigraphic
trap
Salt dome trap
Fault trap
There are many types of traps formed by rock formations:
The most common type of trap and the ones found in OilSim are Four-Way Closure Trap, a type of anticline trap that occur within the same layer which has been pushed up into an arch but where the hydrocarbons are stopped from migrating further upwards due to the cap rock.
Fault traps are created where layers of rock slide up against each other and contain permeable and impermeable rock. The oil migrating through the impermeable rock is cut off by an impermeable layer and trapped against the fault.
Stratigraphic traps keep hydrocarbons in place due to changes in the rock type or sedimentary features of the area and an uneven distribution of formations.
Salt Dome traps enable hydrocarbons to aggregate into pockets on both sides of the dome as stratigraphic traps, as well as above the dome as an anticline s trap.

22. Surface Restriction Areas
Red areas
You will not be allowed to bid, drill or operate in any of the red areas (environmentally sensitive areas)
In Oilsim , the Surface Restriction Area Survey covers the whole map, and might look like this. Red areas are spawning grounds, and blue are not.
Green areas
Blocks in area may be awarded. 22

23. Common Risk Segments
Is there a sedimentary basin and a migration route into the prospects in the area?
Is there porous reservoir rock in the area, so that the oil or gas can be stored?
Is there a sealing rock in the area, so that the oil and gas can be trapped?
If all are positive, then green
If some negative, then orange
If mostly negative, then red
In real life to assess the exploration risks and prospects on a bain scale, geologists use “Basin and Play Fairway Analysis” and is conducted using special GIS software and other specialist programmes. In OilSim this analysis has been simplified into one Common risk segment map to show the probability of hydrocarbons in an area.
The geologists ask a number of questions to determine the probability of finding oil or gas, including:
Is there a sedimentary basin and a migration route into the prospects in the area?
Is there porous reservoir rock so that the oil or gas can be stored?
Is there a sealing rock, so that the oil and gas can be trapped?
The CRS map helps to answer these questions by combining a number of maps, surveys, charts and data analysis into one map and represents the probability of finding oil and gas in a particular geological layer or horizon.
If the answers to all 3 questions mentioned are ”YES”, then the area is shown as green – a high likelihood of finding hydrocardons
If one is negative, then the area is shown in orange – with a medium probabilty of hydrocardons
If the answers to 2 or 3 questions are “NO”- then the area is red and has a low probability of containing oil or gas.

24. Common Risk Segment
CRS. Common Risk Segment surveys tell you about the probability of a structure in the block/cell containing
oil or gas
Surface
Layer 3 Eocene
1500m below the surface
Layer 2 Paleocene
2500m below the surface
Since the CRS show the probabilities of prospects in only one particular horizon or layer, it is necessary to purchase the CRS for all 3 layers so that you can determine which area within the licensing area contains the highest probability of containing oil and gas. So on the CRS maps shown here the area circled in black on the OilSim map and each of the CRS shows that the area in question is within the licensing area and is green on all three CRS layers, indicating high probability of oil and gas on all 3 layers within the same area or blocks. Potentially an area that requires further investigation for individual prospects.
Layer 1 Cretaceous
3500m below the surface

25. 2D Seismic surveys Traps can be found with seismic surveys
2D seismic survey is a cross section of the geological layers along either a column or a row.
2D seismic surveys are used for locating prospects.
In OilSim the 2D seismic surveys are either along a column or a row.
Surveys are available for every second row and every second column.
You use 2D seismic surveys to locate the prospects in the subsurface, and what you should look out for are the traps. You only want to buy 2D seismic for blocks shortlisted by looking at the Common Risk Segment maps.
These surveys will then give an indication of whether there are prospects within these actual blocks.

26. 2D Seismic in OilSim Unprocessed Processed Interpreted
Red is top of the sealing rock
Green is top of the reservoir rock
Interpreted
There are 3 types of data available when you order Seismic surveys in OilSim.
Unprocessed data, is the raw data that is available fairly soon after the seismic providors have done the surveys
Processed data gives you more information about the geological layers in the ground
Interpreted date has been interpreted by geologists. These surveys identify the sealing and reservoir rocks, and possible fault lines in the geological structure.
The traps in OilSim are either:
anticlinal
fault traps

27. Anticlinal traps
Try and find at least 5 prospects in the block that you are going to bid for.
In this example the yellow circles show prospects for block The reason that 4 areas have been marked is that the green line (reservoir rock) makes a “peak” and there is a sealing rock (the red line) above them making sure that the oil and/or gas doesn’t migrate to an other area.

28. Leakage? Leakage Sealant rock
Hear the area between the reservoir and the sealant rock has been shaded in to show you whether you still have a seal at the fault or a gap where leakage could occur.
Sealant rock

29. Order seismic Buy 2D seismic from the survey shop
When you want to buy seismic surveys, click on surveys-tab in the centre of the page. On the right hand side you’ll see the survey shop appear and click “buy”

30. Only buy maximum of 2 block of data at a time to speed up processing
Order Seismic
To buy surveys, click on survey tab and then order the Seismic surveys from the survey shop.
After you’ve clicked “buy” this screen will appear.
The yellow box over the map allows you to buy all the seismic data for those particular blocks. So click and hold and move the box to the area you wish to purchase.
Choose what area you want to buy.
Decide if you want columns or rows
Choose if you want processed or unprocessed surveys. Processed data takes more of your time, but you get better data
Choose interpreted or uninterpreted data. Intrpretede data takes more of your time, but you get better data.
Then order batch,
The price of the order will change depending upon your requests and the data type you want.
Click on “order batch” which starts the processing of your order.
What type of data do you want?
Columns or Rows
Unprocessed or processed data
Interpreted or not
Only buy maximum of 2 block of data at a time to speed up processing

31. View the Seismic Red circles – navigate through the 2D seismic
Yellow square – Row 1 from Column 1-56
When the “batch process” has reached 100% the process is finished.
You’ll then be able to view the batch you bought in the centre of the page.
The red circles on this slide are navigation buttons and allow you to see all your 2D seismic in small icons. To focus on one specific 2D seismic, click on that icon.

32. Cross-sections Column Row Prospect, Reservoir Basin,Source
In this figure you can see that 2D seismic surveys are along columns and rows.
Prospects are visible on both types of 2D seismic surveys.
Actually, you need to doublecheck if you see it in both the column and the row to be sure that it is ”closed” in both dimensions.
Row
Basin,Source
Prospect, Reservoir

33. Enter bids Minimum bid is $250K Maximum bid is $7.5M
Enter numbers without commas (ex: )
You will bid for 3 licenses but each team will only be awarded one license
Highest bid wins the license
If two teams bid the same, the team with the most CP’s gets it
Random license awarded if none of your bids are high enough
Submit your bid before the deadline!
In OilSim this has been simplified and the Government is only concerned with the amount of the signature bonus, the amount offered to the Government and the number of credibility points a team has achieved.
The minimum bid allowed is $250,000 dollars and the highest bid is $7.5 million dollars.
You should try and bid for 3 licenses as this increases your chances of getting a good block and also will help you secure more credibility points, which are always useful throughout the simulation. credibility points in this task are based on a) how green or yellow the CRS surveys are in the blocks that you bid for, and b) how many and how large the prospects are in the blocks that you bid for. You can get up to 300 credibility points.
Even though you can submit 3 offers, each team will only be awarded one license and will only pay for that license.
If two or more teams bid for the same block, the highest bidder will get the license. However, if two or more teams bid the same amount of money, then the team with the most credibility points will be awarded the license.
If you do not offer sufficient amounts for all your blocks and other teams bid higher amounts, then you will be awarded a random block by the Government from one of the ones left in that licensing area.

34. Recap on Task 2
Environmental Sensitive Areas map to see which blocks to avoid
Common Risk Segment surveys to see which blocks to examine closer
2D surveys seismic to identify which ones have the most (big) structures
Remember to submit 3 bids
So lets recap on the things you need to do to solve this task wisely and give you the highest probability finding prospects.
First – buy and review the spawning ground map to check which blocks you should completely avoid
Secondly - buy all three CRS surveys ato study these closely to find out which blocks have the highest probability of prospects
Thirdly – Buy and assess lots of 2D seismic surveys in order to identify particular blocks where there appear to be four-way traps and therefore the highest number of prospects.
Finally – consider your preferences and reviewing the water depths of the blocks, since those with shallow water will be cheaper to drill in and therefore more economically viable in the long run from a production point of view.

35. Task 2 solved Message sent to all teams with the results
Credibility Points are given for prosperity of the blocks you bid for
Every team has got one exploration license
When the deadline has passed each team has one exploration teams.
You can see a summary of the licencing round in a message in the Mailbox.
There you can see who got which blocks for what amount, which blocks all the teams bid for, and how many credibility points each team got

36. Gravimetric data, Magnetic data
OilSim day 1
Task 2
Task 3
Task 1
Licence award,
spread risk-negotiations
Pre-concession work
1 st concession round
Gravimetric data, Magnetic data
Enviromental data,
Geological maps
2D seismic surveys
3D seismic maps
Today’s Challenges

37. Task 3 Exploration Drilling
HQ is happy with the license awarded.
Challenge: Farm-out minimum 20% from your license – and farm-in as much as you can in other good licenses.
Acquire 3D Seismic interpretations for the block you operate, and study the results from the licensing round
Get others to invest 20% or more in your license – you can show/send 3D seismic
Gentlemen, hold your horses!
Exploration Drilling is not about going drilling into the ground. It is about careful planning the drilling operation , and foremost to spread the costs and risks involved upon many shoulders.
Thus farm-outs are imperative activities before drilling itself can be conducted.

38. Real 3D Seismic Shows the subsurface structure in a cube.
You need to buy and study 3D seismic interpretation in order to find out where to drill.
Each 3D seismic interpretation shows the geological structure for one horizon of one of the license blocks.
What you should look out for is four-way closure structural traps, as these are the only traps in OilSim.

39. 3D Seismic in OilSim Layer 3 Eocene Layer 2 Paleocene
As this figure illustrates, you can drill through all three horizons in one well.
You can even drill a deviated well, so that the position is not exactly the same in all horizons.
The deviation can be one cell per horizon.
Layer 1 Cretaceous

40. Partnerships
Spread the risk: e.g Investing in other blocks divides the risks amongst all partners, much more preferable than keeping 100% of one field and all the risk.
Increase probability of profit: investment in only 1 field which could be a dry prospect is possible, whereas the likelihood of investing in 5 fields which are all dry is unlikely.
Farm-in and out is about spreading the risk, thus basic risk management must be applied: Risk Sharing.

41. Licences

42. Farm-in Enter the percentage and total amount for have agreed to offer
Minimum $100,000 per %
Add a message to the seller
Press “Send offer”
When reviewing a farm-out offer you can either accept the amount or % the license owner requests, or amend the amounts to your own offer. Add a message to the seller explaining why they should choose your team and press “Send offer”

43. Farm-in
When a team receives a Farm-In offer to appears under Financing. This is where a team can receive finance or money for a % of their own blocks
Financing – Is where a team is able to accept offers, and therefore receive money or “finance” for a % of their own blocks
When a team receives a Farm-In offer it appears under financing on the right hand side of the homepage

44. Farm-in License OWNER decides whether to ACCEPT or REJECT the offer
Partnerships established every time a license owner accepts an offer.
Overview: On the main page, you can see all licenses. 1) licenses you operate, 2) licenses you have invested in, and other licenses.
By clicking on this offer the team can then accept or reject the offer.
A partnership is established every time a license owner accepts an offer.
You can farm in and farm out at any time from now on, but you need to sell at least 20% to be allowed to start drilling in the block that you operate.
Note, that you on the license tab can get an overview of the licenses that you operate, the licenses that you have invested in, and all the other licenses.
You are not allowed to drill before at least 20% of your license has been farmed out.

45. Farm-in
All your farm-in offers to other teams are shown under “Investing” on the right-hand side of the homepage .
This is where a team offers investments to other teams for a % of their blocks
All your farm-in offers to other teams are shown under “Investing” on the right-hand side of the homepage .
This is where a team offers investments to other teams for a % of their blocks
Remember you must have farmed-out 20% of your own block before you can drill.

46. Partnerships Partners pay a proportional share of all future costs
Partners receive a proportional share of the net proceeds from oil and gas
The operator team makes all decisions regarding drilling
Teams can farm-out up to 70% of licence
Operators must keep 30% of licence
When you have entered a partnership, you will pay your share of all future costs in the license.
This includes your share of all exploration wells that are drilled.
On the other hand, you will receive your share of the net value of any oil or gas that is found in the license.
If you own 20% of a license you pay 20% of all costs, and you receive 20% of all license values.
Even if there are other owners, it is the operator team that takes all decisions regarding acquirement of 3D seismic, drilling of wells, and testing of wells.
When you are a partner in a license block, you get all information about the discovered oil and gas fields
A team can farm-out up to 70% of each licence, but must keep 30%.