Value of information in closed-loop reservoir management

This paper proposes a new methodology to perform value of information (VOI) analysis within a closed-loop reservoir management (CLRM) framework. The workflow combines tools such as robust optimization and history matching in an environment of uncertainty characterization. The approach is illustrated with two simple examples: an analytical...

Model-reduced gradient-based history matching

Gradient-based history matching algorithms can be used to adapt the uncertain parameters in a reservoir model using production data. They require, however, the implementation of an adjoint model to compute the gradients, which is usually an enormous programming effort. We propose a new approach to gradient-based history matching which is based...