Flow-based dissimilarity measures for reservoir models: a spatial-temporal tensor approach

In reservoir engineering, it is attractive to characterize the difference between reservoir models in metrics that relate to the economic performance of the reservoir as well as to the underlying geological structure. In this paper, we develop a dissimilarity measure that is based on reservoir flow patterns under a particular operational...

Handling geological and economic uncertainties in balancing short-term and long-term objectives in waterflooding optimization

Model-based economic optimization of oil production has a significant scope to increase financial life-cycle performance. The net-present-value (NPV) objective in this optimization, because of its nature, focuses on long-term gains, whereas short-term production is not explicitly addressed. At the same time, the achievable NPV is highly...

Determination of lower and upper bounds of predicted production from history-matched models

We present a method to determine lower and upper bounds to the predicted production or any other economic objective from history-matched reservoir models. The method consists of two steps: 1) performing a traditional computer-assisted history match of a reservoir model with the objective to minimize the mismatch between predicted and observed...

Robust optimization of water-flooding in oil reservoirs using risk management tools

The theory of risk provides a systematic approach to handling uncertainty with well-defined risk and deviation measures. As the model-based economic optimization of the water-flooding process in oil reservoirs suffers from high levels of uncertainty, the concepts from the theory of risk are highly relevant. In this paper, the main focus is to...