The goal of reservoir management is to make decisions with the objective of maximizing the
value creation from oil or gas production. To achieve this, models that preserve geological …

The oil and gas (O&G) industry spends billions of dollars on data (eg, production data,
seismic data and tracer data) gathering and analysis for the purpose of reducing uncertainty …

Flexible strategies have become increasingly important for making strategic decisions under
uncertainty conditions, once to consider flexibility in projects to engender the option of …

To manage uncertainty in reservoir development projects, the Value of Information is one of
the main factors on which the decision is based to determine whether it is necessary to …

In sequential field development planning, past decisions not only directly affect the
maximum achievable expected NPV but also influence the future information that can be …

A key decision in field management is whether or not to acquire information to either
improve project economics or reduce uncertainties. A widely spread technique to quantify …

Limited understanding of the complex subsurface brings uncertainty and risk of production
shortfalls in the oilfield development. Geostatistics provides tools to model the geological …

To achieve high profitability from an oil field, optimizing the field development strategy (eg,
well type, well placement, drilling schedule) before committing to a decision is critically …

Energy plays a fundamental role in our modern societies. Our capacity of changing the world
around us to make it a better place depends on its availability. In the pursue of a sustainable …

With the rapid increase in computing power over the past several decades, automatic or
semi-automatic approaches to history matching (HM) have become viable replacements for …