Reservoir Management Decision Making In The Presence Of Geological Uncertainty
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Author | : Michael J. Pyrcz |
Publisher | : Oxford University Press |
Total Pages | : 449 |
Release | : 2014-04-16 |
Genre | : Mathematics |
ISBN | : 0199358834 |
Published in 2002, the first edition of Geostatistical Reservoir Modeling brought the practice of petroleum geostatistics into a coherent framework, focusing on tools, techniques, examples, and guidance. It emphasized the interaction between geophysicists, geologists, and engineers, and was received well by professionals, academics, and both graduate and undergraduate students. In this revised second edition, Deutsch collaborates with co-author Michael Pyrcz to provide an expanded (in coverage and format), full color illustrated, more comprehensive treatment of the subject with a full update on the latest tools, methods, practice, and research in the field of petroleum Geostatistics. Key geostatistical concepts such as integration of geologic data and concepts, scale considerations, and uncertainty models receive greater attention, and new comprehensive sections are provided on preliminary geological modeling concepts, data inventory, conceptual model, problem formulation, large scale modeling, multiple point-based simulation and event-based modeling. Geostatistical methods are extensively illustrated through enhanced schematics, work flows and examples with discussion on method capabilities and selection. For example, this expanded second edition includes extensive discussion on the process of moving from an inventory of data and concepts through conceptual model to problem formulation to solve practical reservoir problems. A greater number of examples are included, with a set of practical geostatistical studies developed to illustrate the steps from data analysis and cleaning to post-processing, and ranking. New methods, which have developed in the field since the publication of the first edition, are discussed, such as models for integration of diverse data sources, multiple point-based simulation, event-based simulation, spatial bootstrap and methods to summarize geostatistical realizations.
Author | : B.S. Daya Sagar |
Publisher | : Springer |
Total Pages | : 911 |
Release | : 2018-06-25 |
Genre | : Science |
ISBN | : 3319789996 |
This Open Access handbook published at the IAMG's 50th anniversary, presents a compilation of invited path-breaking research contributions by award-winning geoscientists who have been instrumental in shaping the IAMG. It contains 45 chapters that are categorized broadly into five parts (i) theory, (ii) general applications, (iii) exploration and resource estimation, (iv) reviews, and (v) reminiscences covering related topics like mathematical geosciences, mathematical morphology, geostatistics, fractals and multifractals, spatial statistics, multipoint geostatistics, compositional data analysis, informatics, geocomputation, numerical methods, and chaos theory in the geosciences.
Author | : Marco A. C. Pacheco |
Publisher | : Springer |
Total Pages | : 296 |
Release | : 2009-01-30 |
Genre | : Technology & Engineering |
ISBN | : 3540930000 |
The decision to invest in oil field development is an extremely complex problem, even in the absence of uncertainty, due to the great number of technological alternatives that may be used, to the dynamic complexity of oil reservoirs - which involves mul- phase flows (oil, gas and water) in porous media with phase change, and to the c- plicated combinatorial optimization problem of choosing the optimal oil well network, that is, choosing the number and types of wells (horizontal, vertical, directional, m- tilateral) required for draining oil from a field with a view to maximizing its economic value. This problem becomes even more difficult when technical uncertainty and e- nomic uncertainty are considered. The former are uncertainties regarding the existence, volume and quality of a reservoir and may encourage an investment in information before the field is developed, in order to reduce these uncertainties and thus optimize the heavy investments required for developing the reservoir. The economic or market uncertainties are associated with the general movements of the economy, such as oil prices, gas demand, exchange rates, etc. , and may lead decision-makers to defer - vestments and wait for better market conditions. Choosing the optimal investment moment under uncertainty is a complex problem which traditionally involves dynamic programming tools and other techniques that are used by the real options theory.
Author | : |
Publisher | : |
Total Pages | : 656 |
Release | : 2002 |
Genre | : Dissertations, Academic |
ISBN | : |
Author | : |
Publisher | : |
Total Pages | : 1198 |
Release | : 1988 |
Genre | : Hydrology |
ISBN | : |
Author | : Franco Caron |
Publisher | : Springer Science & Business Media |
Total Pages | : 89 |
Release | : 2013-05-24 |
Genre | : Technology & Engineering |
ISBN | : 8847052440 |
The brief will describe how to develop a risk analysis applied to a project , through a sequence of steps: risk management planning, risk identification, risk classification, risk assessment, risk quantification, risk response planning, risk monitoring and control, process close out and lessons learning. The project risk analysis and management process will be applied to large engineering projects, in particular related to the oil and gas industry. The brief will address the overall range of possible events affecting the project moving from certainty (project issues) through uncertainty (project risks) to unpredictability (unforeseeable events), considering both negative and positive events. Some quantitative techniques (simulation, event tree, Bayesian inference, etc.) will be used to develop risk quantification. The brief addresses a typical subject in the area of project management, with reference to large engineering projects concerning the realization of large plants and infrastructures. These projects are characterized by a high level of change, uncertainty, complexity and ambiguity. The brief represents an extension of the material developed for the course Project Risk Analysis and Management of the Master in Strategic Project Management (Erasmus Mundus) developed jointly by Politecnico di Milano, Heriot Watt University (Edimburgh) and Umea (Sweden). The brief may be used both in courses addressing project management subjects and by practitioners as a guide for developing an effective project risk management plan.
Author | : Céline Scheidt |
Publisher | : John Wiley & Sons |
Total Pages | : 304 |
Release | : 2018-04-27 |
Genre | : Science |
ISBN | : 1119325870 |
Under the Earth’s surface is a rich array of geological resources, many with potential use to humankind. However, extracting and harnessing them comes with enormous uncertainties, high costs, and considerable risks. The valuation of subsurface resources involves assessing discordant factors to produce a decision model that is functional and sustainable. This volume provides real-world examples relating to oilfields, geothermal systems, contaminated sites, and aquifer recharge. Volume highlights include: • A multi-disciplinary treatment of uncertainty quantification • Case studies with actual data that will appeal to methodology developers • A Bayesian evidential learning framework that reduces computation and modeling time Quantifying Uncertainty in Subsurface Systems is a multidisciplinary volume that brings together five major fields: information science, decision science, geosciences, data science and computer science. It will appeal to both students and practitioners, and be a valuable resource for geoscientists, engineers and applied mathematicians. Read the Editors’ Vox: https://eos.org/editors-vox/quantifying-uncertainty-about-earths-resources
Author | : |
Publisher | : |
Total Pages | : 516 |
Release | : 2010 |
Genre | : Petroleum engineering |
ISBN | : |
Author | : |
Publisher | : |
Total Pages | : 368 |
Release | : 2000 |
Genre | : Oil reservoir engineering |
ISBN | : |
Author | : |
Publisher | : |
Total Pages | : 1212 |
Release | : 1988 |
Genre | : Water |
ISBN | : |