... Abstract The importance of uncertainty quantification and risks assessment in the petroleum industry cannot be overstated. Uncertainty will always be present in production forecasts and reserves estimates. Underestimation of uncertainty when estimating reserves and profitability of projects can...

... systems during bidding stage using Simplified Risk Assessment (SRA) methodologies. The methodology adopted was to conduct a risk assessment for a typical bid to arrive at the sound cost estimate for the fire protection systems. Typically fire protection requirements come in form of recommendations from...

... Hypercube neural network efficient experimental design technique simulation model algorithm risk assessment risk management risk and uncertainty assessment Introduction Quantifying the uncertainties of reservoir simulation models has a significant enhancing impact on the output of the study...

... Intelligence Upstream Oil & Gas estimation process machine learning risk assessment calibration Exhibition decision-making correct answer participant automatic calibration Standard Deviation society of petroleum engineers Bratvold confidence interval tversky spe annual technical conference...

... aquifer and could even lead to loss of lives in cases like H2S gas kick. Therefore, an accurate risk assessment is the need-of-the-hour and this is what was done in this study. It was aimed to study the drilling operations that had been carried out in Manifa field using data from fifteen wells...