Including uncertainty analysis workflows in reservoir modeling and simulation improves risk assessment and quantification and, consequently, decision making. Uncertainty analysis in the Petrel platform provides objective function definition, experimental design techniques, and proxy models, which enable the impact of uncertainty on production rates or reserves to be evaluated in a fraction of the time previously required.
Primary workflows include:
- Sensitivity studies to determine the key parameters in your reservoir simulations
- Quantification of volumetric uncertainty in your reservoir
- Optimizing well placement or completion design
- Generation of probabilistic simulation forecasts