Uncertainty analysis and risk quantification can improve reservoir modeling, probabilistic forecasting, and business analysis, and consequently risk assessment and decision making. Petrel seismic-to-simulation software allows the impact of uncertainty on production rates or reserves to be evaluated in a fraction of the time previously required. Petrel workflows include sensitivity and uncertainty analysis, optimization tools, and proxy-model options. The primary workflows include volumetric uncertainty, well placement and completions, and reservoir simulation forecasts.
The Petrel uncertainty and optimization workflow for risk management in field development planning and field management delivers improved understanding of uncertainty and optimization. Petrel software has the data and interpretation workflows to generate models, analyze uncertainty, and optimize forecasts all within one application.