Method and system for assessing exploration prospect risk and uncertainty

A computer implemented method for evaluating risk and uncertainty elements of an exploration prospect within an integrated environment comprising multiple reservoir evaluation tools, the method comprising:

• (a) storing geological and geophysical information related to an exploration prospect and associated reservoirs in an integrated environment, wherein the integrated environment includes a graphical user interface and multiple reservoir evaluation tools;
• (b) defining at least one exploration prospect in the integrated environment;
• (c) defining at least one associated reservoir in the exploration prospect in the integrated environment;
• (d) defining parameters for a plurality of reservoir evaluation tools for the reservoir in the integrated environment, wherein the reservoir evaluation tools assess risk and uncertainty of reservoir characteristics;
• (e) applying one of the reservoir evaluation tools to a subset of the geological and geophysical information for a specified reservoir characteristic,
• (f) integrating the reservoir evaluation tool results and the defined information regarding the exploration prospect and the reservoir to generate a risk and uncertainty scorecard in the integrated environment;
• and
• (g) repeating steps (c) to (f) for each of the plurality of reservoir evaluation tools wherein each reservoir evaluation tools is applied to a related subset of the geological and geophysical information, and each risk and uncertainty scorecard has a comparable output format, wherein the risk and uncertainty scorecard is used to forecast potential risks and uncertainty elements associated with the exploration prospect.