This paper describes the design and implementation of a prototype toolkit that demonstrates Integrated Asset Management (IAM) functionality through an integrated production and forecasting workflow. A graphical modeling environment specially configured for this domain is used to instantiate the asset model. Automatic conversion of legacy data into structured model representations is facilitated through a model synthesis tool. The actual optimization is performed using a commercially available solver. For an oilfield with about 75 wells, the tool requires only a few seconds to read the model information and produce the forecast. The time required to generate the forecast output in the desired format depends on the duration of forecasting, the size of the field, and whether the output is to be produced as a text file or a Microsoft Excel spreadsheet.

Keywords:
integrated asset modeling, Upstream Oil & Gas, information, Artificial Intelligence, forecasting, workflow, asset and portfolio management, forecasting tool, modeling environment, gift framework
Subjects:
Asset and Portfolio Management, Information Management and Systems, Integrated asset modeling
Copyright 2006, Society of Petroleum Engineers
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