Clustering Techniques for Value-of-information Assessment in Closed-loop Reservoir Management

Closed-loop reservoir management (CLRM) is a combination of life-cycle optimization and computerassisted history matching. The application of the CLRM framework to real field cases can be computationally demanding. An even higher computational load results from procedures to assess the value of information (VOI) in CLRM. Such procedures, which...

Value of multiple production measurements and water front tracking in closed-loop reservoir management

This paper extends previous work on value of information (VOI) assessment in closed-loop reservoir management (CLRM) to estimate the added value of performing multiple measurements along the producing life of the reservoir. The new procedure is based on the workflow from our previous paper which allows to quantify the VOI of a single observation...