... captures available operational flexibilities and opportunities to gather additional information allowing to tune the development plan during the course of a project. This can allow to mitigate downside risks associated with the reservoir uncertainty. In order to capture additional flexibilities and account...

.... For both case histories the data collected has proved very useful in reducing uncertainty during the early stages of field development. new wireless reservoir drillstem/well testing Case History reservoir uncertainty debris cap Upstream Oil & Gas communication application pressure buildup...

... be used in such context. The EVOI is based on average expectations; it is a weighted measure and does not show the variation of the expected benefits owing to reservoir uncertainties and consequently does not provide a complete picture of the problem. Thus, it is proposed a methodology that provides...

... benefit than its acquisition cost; Reservoir uncertainties: the reservoir model used to assist the decision making process is developed under several physical uncertainties. Thus, the VOI should be assessed under uncertainty and a probabilistic approach is used in the VOI estimation. The term Expected...

... simultaneously are computational expensive. At the same time, there is a need to make reservoir management decision in presence of reservoir uncertainty. Accounting for joint uncertainty across the reservoir requires simultaneous management of multiple realizations. Thermal simulators cannot be applied...

... selection spe annual technical conference Completion Type horizontal well Upstream Oil & Gas production forecast icv completion design reservoir recovery reservoir uncertainty base case reservoir model realisation Oil Recovery Introduction Well performance prediction is one...

... Abstract This paper presents a fully-integrated methodology for managing reservoir uncertainties during history matching, production forecasting and production scheme optimization. Based on the traditional experimental design methodology, this innovative approach, called the Joint Modeling...

.... The maximum is a function of project's estimated NPV (with uncertainty), characterization analysis time, and the cost of delay. P. 347 expenditure reservoir uncertainty project valuation application deferral project economics reservoir characterization spe 49094 decision point real option...