Unconventional Risk and Uncertainty: What Does Success Look Like?
This paper presents approaches for proper risking of uncertain recoverable volumes for an unconventional resource, taking into account the chance of false positives from appraisal-well information.
Functional Approach to Data Mining, Forecasting, and Uncertainty Quantification
The difficulty in applying traditional reservoir-simulation and -modeling techniques for unconventional-reservoir forecasting is often related to the systematic time variations in production-decline rates. This paper proposes a nonparametric statistical approach to resolve this difficulty.
Saudi Aramco Initiative Simplifies Real-Time Data Processing
As the drilling industry improves its efforts to capture drilling operation activities in real time, it has generated a significant amount of data that drilling engineers cannot process on their own.
The Influence of Communication About Safety Measures on Risk-Taking Behavior
Risk-taking behavior is an important contributing human factor to incidents and is notoriously difficult to influence. This study examined how safety measures and uncertainty affected the risk-taking behavior of participants.
A Novel Integrity-Assurance Approach for Qualification of Subsea Technologies
The deepwater industry uses technology qualification (TQ) as a tool to determine which safety barriers are needed, and what level of testing is required. Even without failure data from the field, a method has been developed to quantify the integrity of various components.
Methodology Evaluates Artificial-Lift Requirements Amid High Uncertainty
When evaluating artificial-lift requirements, sometimes data present uncertainties at the initial planning stage. This paper presents the integrated and structured methodology that was used to deal with high-uncertainty conditions.
Method for Adaptive Optimization of EOR Performance Under Uncertainty
The authors present a method to reduce uncertainty in EOR performance adaptively while identifying an optimal operational strategy for a given tolerance to risk.
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16 January 2020
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14 January 2020