• May 4, 2020 - May 8, 2020
    8:00 am - 5:00 pm

Course Length: 5 Days      Course Dates:  May 4 – 8, 2020     Course Venue:   Calgary, Alberta, Canada

Course Description:

This course covers the fundamental principles of reservoir modeling and probabilistic methods for risk assessment and uncertainty quantification and their application to reservoir characterization, development and management. It covers a variety of topics related to the integration of production and performance data into reservoir models and account for their respective errors and uncertainties. The topics also include history matching problem formulation, deterministic and probabilistic history matching techniques, risk and decision analysis techniques, as well as common techniques for regularization and parameterization of reservoir models for history matching. Applications and case studies on risk and uncertainty management methods in field development planning will be presented and discussed.

Who Should Attend?

This course is designed for professional reservoir engineers, petrophysicists, geophysicists, geologists, asset managers and senior managers

What You Will Learn:

  • Understand foundations of field development planning
  • Modern petroleum risk and uncertainty management techniques
  • Systematically assess relevant risks and uncertainties in FDP
  • Learn to think more probabilistically
  • Measure the value of seeking additional information
  • Communicate and implement a consistent risk and uncertainty management policy
  • Understand the value of portfolio analysis in FDP
  • Develop clear guidelines for making decisions in FDP
  • Better evaluate the firm’s position relative to a strategic plan
  • Provide a platform for communication and teamwork in the overall decision making progress

Course Outline:

  • Overview of Field Development. Field development processes and decisions
  • Field development planning and optimization concepts
  • Integrated reservoir characterization and modeling for field development planning
  • Sources of uncertainties in reservoir performance simulation
  • Fundamental concepts in probabilistic modeling for risk assessment
  • History matching formulations and uncertainty quantification
  • Modeling for decision analysis and options
  • Modeling for risk management
  • Managing risk in field development under uncertainty
  • Decision Scenario Optimization (DSO)
  • Case studies