Uncertainty Analysis & Optimization Workflow

Uncertainty analysis and risk quantification can improve reservoir modeling, probabilistic forecasting, and business analysis, and consequently risk assessment and decision making. Petrel seismic-to-simulation software allows the impact of uncertainty on production rates or reserves to be evaluated in a fraction of the time previously required. Petrel workflows include sensitivity and uncertainty analysis, optimization tools, and proxy-model options. The primary workflows include volumetric uncertainty, well placement and completions, and reservoir simulation forecasts.

The Petrel uncertainty and optimization workflow for risk management in field development planning and field management delivers improved understanding of uncertainty and optimization. Petrel software has the data and interpretation workflows to generate models, analyze uncertainty, and optimize forecasts all within one application.

Capabilities

• Efficiently samples the parameter space using proxy models.
• Includes uncertainty analysis sampling methods such as Monte Carlo, Latin hypercube, Plackett-Burman, Box-Behnken, and central composite.
• Allows creation of proxy models using experimental designs.
• Optimizes objective functions and finds the best control parameters. Optimization algorithms include simplex linear, which handles linear constraints; simplex nonlinear, which handles nonlinear constraints; and neural net. 
• Includes automated design, placement, and completion optimization for complex wells (fish bone, fork). You can use the well path and lateral design parameters in sensitivity and optimization workflows.
• Allows you to create, submit, and analyze a large number of simulation runs through integration of Petrel with ECLIPSE reservoir simulation software, enabling you to consider larger parameter sets providing rapid model parameter screening and improved volumetric recovery estimates.
• ECLIPSE functionality within Petrel software includes a set of rules for controlling reservoirs and wells that assists the development-strategy process. 
• State-of-the-art visualization tools enable excellent results analysis, producing improved reservoir modeling and helping with probabilistic forecasting and business analysis.