P1, which was launched two years ago, uses Monte-Carlo probabilistic simulation techniques to deliver a realistic representation of the spread of possible time/cost outcomes from well activities. P1 and its attendant expert process lift operator performance through adding insight to all stages of the well delivery and well planning processes, said the Peak Group.

"Top operators are now escaping the limitations of deterministic planning, replacing this with the performance enhancing probabilistic approach," said Peak Group managing director Andrew Paterson.

"This enables significantly improved understanding of time, cost and technical exposures. This in turn facilitates more informed decision-making, timely activity execution and more efficient utilisation of resources. The technique also adds huge value to the concept and technology selection processes."

Peak has been able to gather feedback on P1, which has assisted in the development of version 2.