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Vol. 58 No. 12

December 2006

Reserves/Asset Management

Increasing Confidence in Production Forecasting Through Risk-Based Integrated Asset Modeling: Captain Field Case Study

To assist probabilistic forecasting and decision making for the Captain North Sea heavy-oil asset, Chevron developed an integrated asset model (IAM). This model includes probabilistic predictions of facilities performance and production, enabling decision-risk analysis for strategic and operational decisions. The IAM includes risk-based oil-, gas-, and water-production forecasts and cash flows. These forecasts take full account of facilities constraints and uncertainties in reservoir and operational parameters through links to decision-risk-analysis software.

View a Synopsis of SPE 99937 [307KB]

This article, written by Technology Editor Dennis Denney, contains highlights of paper SPE 99937, "Increasing Confidence in Production Forecasting Through Risk-Based Integrated Asset Modeling: Captain Field Case Study," by L.M. Wickens, SPE, RPS Energy, and G. De Jonge, SPE, Chevron Upstream Europe, prepared for the 2006 SPE Europec/EAGE Annual Conference and Exhibition, Vienna, 12-15 June. The paper has not been peer reviewed.

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