Harness Oil and Gas Big Data with Analytics by Keith Holdaway

Author:Keith Holdaway [Holdaway, Keith]
Language: eng
Format: epub, pdf
Published: 2014-11-23T12:01:54+00:00

6

C H A P T E R

Reservoir

Management

Knowledge makes you free from the chains of igno-

rance, and revives your heart; knowledge takes you

out from the darkness of suspicions and superstitions,

and gives a new light to your eyes.

Hazrat Abu Ali Saqfi

The goal of reservoir management is to maximize the economic profitability or net present value of the asset (hydrocarbon reserves) while minimizing

CAPEX and OPEX.1 Controlling operations to maximize both short- and

long-term production predicates a lifecycle optimization based on reservoir

model uncertainties together with model updating by production measure-

ments, time-lapse seismic, and other available data. Time-lapse seismic data,

for example, help to determine reservoir changes that occur over time and can

be used as a new dimension in history matching since they contain information

about fluid movement and pressure changes between and beyond the well.

How can we process and use the huge amount of information in an efficient

way and ensure that the reservoir models are kept up to date and consistent

with the data? We shall explore some of the data and associated analytical

methodologies appropriate to reservoir management in the case studies.

Reservoir management tasks can broadly fall into one of four buckets:2

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