Protecting Return on Investment through Automated Ensemble-based Quantification of Risk - Norwegian Offshore Field Case Study

Summary This abstracts illustrates how integrating different uncertainties at different reservoir modeling stages produces geologically consistent models, increases reservoir model reliability and generates more reliable prediction estimates. Using an integrated reservoir modeling and reservoir engineering workflow, the Big Loop and its ensemble-statistics based approach can generate crucial information to reduce risk and support decision-making - on determining reservoir uncertainties and their ranges, in planning future field development, and in guiding well placement using multiple history match models.