Case Study: Petrobras accelerates integrated E&P risk analysis with Lumivero's @RISK

Petrobras Uses @RISK for E&P Analysis

Petrobras, a major Brazilian oil and gas company, faced limitations with its in-house economic risk analysis system, Progride. The system could not effectively analyze complex, integrated projects with multiple concession sites and lacked user access to simulation data. To overcome these challenges and perform comprehensive risk assessments on its multi-billion dollar investments, Petrobras turned to the vendor Lumivero and its product, @RISK.

Lumivero's solution involved integrating @RISK directly with Petrobras's existing Progride system within Excel. This allowed analysts to model probabilistic scenarios for shared and independent risk factors across multiple concessions and run vastly more complex analyses. The implementation by Lumivero delivered significant results, most notably reducing calculation times for projections from thousands of hours down to a single day. This led to enormous cost savings for Petrobras and enabled a more accurate and comprehensive assessment of its integrated projects.

Petrobras