The project aims to develop the next-generation digital workflows for sub-surface field development and reservoir management to improve decision making and uncertainty analysis for well-planning and field development by using a decision-driven ensemble-based approach. The Decision & Data Analytics group at UiS focus on developing probabilistic decision models that will work well with an ensemble representation of the information, also when using ensembles of reasonable and computationally affordable size.
UiS Involvement: Reidar B. Bratvold (Professor), Aojie Hong (Associate Professor), and Amine Tadjer (PhD Candidate)
Project Website
The primary objective of this project is to develop methodology for geosteering by continuously updating geomodel based on LWD measurements. The Decision & Data Analytics group at UiS contributes to developing a transparent, systematic and consistent workflow for quantifying complex geological uncertainties in a geomodel and considering them for making high-quality geosteering decisions.
UiS Involvement: Reidar B. Bratvold (Professor), Muzammil Hussain Rammay (Postdoc), and Aojie Hong (Associate Professor)
Project Website
Oil production forecasts are usually biased mainly because of overconfidence and optimism. The goal of the project is to debias oil production forecasts for improving decision quality. To achieve this goal, reference class forecasting approaches are used, which take an “outside view” by looking at past outcomes under similar situations. Real forecast data from oil companies is investigated.
UiS Involvement: Reidar B. Bratvold (Professor), Erik nesvold (Postdoc), and Aojie Hong (Associate Professor)
The objective of this project is to study how the uncertainty of the benefits of a technology can affect decisions related to the adoption of the technology and the information-gathering process that supports the decision on the investment. More specifically, the study requires the formulation of a dynamic programming model where, in each period, the consumer adopts or rejects a new technology or waits and gathers additional information about the benefits of a technology by observing a signal/proof of the technology’s benefit.
UiS Involvement: Reidar B. Bratvold (Professor), Aojie Hong (Associate Professor), Peyman Kor (Phd Student)
