Abstract
Monitoring reservoir parameters leads to an improved understanding. But is the improved understanding worth the cost? We should justify the costs with the added benefits from the flow of information. Yet, the benefits are not easy to measure. The benefits are effectively in the decision making. The improved understanding should help us make better decisions. If, for example, the added information leads to the same development or drilling plans, then the improved understanding from the information would have been worthless.
In this presentation, I will discuss the value of reservoir monitoring from the economic and business perspective. I will highlight the role of decision making in creating value and that the flow of information should support this process. The information by itself does not have any value. The value is in more informed development plans, more efficient wells, or enhanced management of the reservoir.
In this presentation, I will discuss the value of reservoir monitoring from the economic and business perspective. I will highlight the role of decision making in creating value and that the flow of information should support this process. The information by itself does not have any value. The value is in more informed development plans, more efficient wells, or enhanced management of the reservoir.
| Original language | English |
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| DOIs | |
| Publication status | Published - 21 Nov 2022 |
| Event | 1st EAGE/SBGf Workshop on Reservoir Monitoring and its Role in the Energy Transition 2022 - Rio de Janeiro, Brazil Duration: 21 Nov 2022 → 22 Nov 2022 |
Conference
| Conference | 1st EAGE/SBGf Workshop on Reservoir Monitoring and its Role in the Energy Transition 2022 |
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| Country/Territory | Brazil |
| City | Rio de Janeiro |
| Period | 21/11/22 → 22/11/22 |