Geological Risk And Uncertainty In Oil Exploration
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Geological Risk and Uncertainty in Oil Exploration by Ian Lerche Pdf
The subsequent incorporation of model uncertainties into probabilistic models of basin evolution and behavior constitutes the second half of this book. Throughout, the author interweaves a discussion of scientific probability, risk, and strategy within the context of improving our ability to assess strategic hydrocarbon resources.
Computing Risk for Oil Prospects: Principles and Programs by J.W. Harbaugh,J.C. Davis,J. Wendebourg Pdf
The petroleum industry is enduring difficult financial times because of the continuing depressed price of crude oil on the world market. This has caused major corporate restructuring and reductions in staff throughout the industry. Because oil exploration must now be done with fewer people under more difficult economic constraints, it is essential that the most effective and efficient procedures be used. Computing Risk for Oil Prospects describes how prospect risk assessment — predicting the distribution of financial gains or losses that may result from the drilling of an exploration well — can be done using objective procedures implemented on personal computers. The procedures include analyses of historical data, interpretation of geological and geophysical data, and financial calculations to yield a spectrum of the possible consequences of decisions. All aspects of petroleum risk assessment are covered, from evaluating regional resources, through delineating an individual prospect, to calculation of the financial consequences of alternative decisions and their possible results. The bottom lines are given both in terms of the probable volumes of oil that may be discovered and the expected monetary returns. Statistical procedures are linked with computer mapping and interpretation algorithms, which feed their results directly into routines for financial analysis. The programs in the included library of computer programs are tailored to fit seamlessly together, and are designed for ease and simplicity of operation. The two diskettes supplied are IBM compatible. Full information on loading is given in Appendix A - Software Installation. Risk I diskette contains data files and executables and Risk 2 diskette contains only executables. The authors contend that the explorationist who develops a prospect should be involved in every facet of its analysis, including risk and financial assessments. This book provides the tools necessary for these tasks.
Evaluation of Uncertainties and Risks in Geology by György Bardossy,János Fodor Pdf
High levels of uncertainty are a trademark of geological investigations, such as the search for oil, diamonds, and uranium. So business ventures related to geology, such as mineral exploration and mining, are naturally associated with higher risks than more traditional entrepreneurial ventures in industry and economy. There are also a number of dangerous natural hazards, e.g. earthquakes, volcanic activities, and inundations, that are the direct result of geological processes. It is of paramount interest to study them all, to describe them, to understand their origin and - if possible - to predict them. While uncertainties, geological risks and natural hazards are often mentioned in geological textbooks, conferences papers, and articles, no comprehensive and systematic evaluation has so far been attempted. This book, written at an appropriately sophisticated level to deal with complexity of these problems, presents a detailed evaluation of the entire problem, discussing it from both, the geological and the mathematical aspects.
John Warvelle Harbaugh,John H. Doveton,John C. Davis
Author : John Warvelle Harbaugh,John H. Doveton,John C. Davis Publisher : John Wiley & Sons Page : 296 pages File Size : 55,5 Mb Release : 1977 Category : Petroleum ISBN : UCAL:B4118320
Economic Risk in Hydrocarbon Exploration by Ian Lerche,John A. MacKay Pdf
Economic Risk in Hydrocarbon Exploration provides a total framework for assessing the uncertainties associated with exploration risk from beginning to end. Numerous examples with accompanying microcomputer algorithms illustrate how to quantitatively approach economic risk. The text compares detailed assumptions and models of economic risk, and presents numerical examples throughout to facilitate hands-on calculations using popular spread-sheet packages on personal computers. Covers economic risk from exploration through production models Brings methods to a level where all can be done on a PC Analyzes numerical examples from the real world Removes "mystery" from how economics is done Addresses assumptions in models and shows how they influence projections
Technical Guidance for Petroleum Exploration and Production Plans by Tarek Al-Arbi Omar Ganat Pdf
This book presents detailed explanations of how to formulate field development plans for oil and gas discovery. The data and case studies provided here, obtained from the authors’ field experience in the oil and gas industry around the globe, offer a real-world context for the theories and procedures discussed. The book covers all aspects of field development plan processes, from reserve estimations to economic analyses. It shows readers in both the oil and gas industry and in academia how to prepare field development plans in a straightforward way, and with substantially less uncertainty.
Inverse and Risking Methods in Hydrocarbon Exploration by Ian Lerche Pdf
This book looks at how modern developments have enhanced the utility of basin analysis in hydrocarbon exploration. A major factor is modern computing power, which enables complex Monte Carlo-type calculations to be rapidly carried out; a second is the transfer of concepts from the economic arena to the theatre of hydrocarbon production, for example setting risking procedures to cope with data uncertainties. In addition now there are available powerful methods for handling the determination of parameters in the highly non-linear world of equations describing various facets of basin analysis. Th.
Unconventional Petroleum Geology by Caineng Zou Pdf
Unconventional Petroleum Geology, Second Edition presents the latest research results of global conventional and unconventional petroleum exploration and production. The first part covers the basics of unconventional petroleum geology, its introduction, concept of unconventional petroleum geology, unconventional oil and gas reservoirs, and the origin and distribution of unconventional oil and gas. The second part is focused on unconventional petroleum development technologies, including a series of technologies on resource assessment, lab analysis, geophysical interpretation, and drilling and completion. The third and final section features case studies of unconventional hydrocarbon resources, including tight oil and gas, shale oil and gas, coal bed methane, heavy oil, gas hydrates, and oil and gas in volcanic and metamorphic rocks. Provides an up-to-date, systematic, and comprehensive overview of all unconventional hydrocarbons Reorganizes and updates more than half of the first edition content, including four new chapters Includes a glossary on unconventional petroleum types, including tight-sandstone oil and gas, coal-bed gas, shale gas, oil and gas in fissure-cave-type carbonate rocks, in volcanic reservoirs, and in metamorphic rocks, heavy crude oil and natural bitumen, and gas hydrates Presents new theories, new methods, new technologies, and new management methods, helping to meet the demands of technology development and production requirements in unconventional plays
Innovative Exploration Methods for Minerals, Oil, Gas, and Groundwater for Sustainable Development by A. K. Moitra,Jayanta Bhattacharya,J. R. Kayal,Biplab Mukerji,A.K. Das Pdf
Innovative Exploration Methods for Mineral, Oil, Gas, and Groundwater for Sustainable Development provides an integrated approach to exploration encompassing geology, geophysics, mining, and mineral processing. In addition, groundwater exploration is included, as it is central to the development of earth resources. As the demand for coal, minerals, oil and gas, and water continues to grow globally, researchers must prioritize sustainable exploration methods. Old technologies are being replaced speedily and exploration work has become fast, focused, meaningful, and readily reproducible keeping in pace with the changing global scenario. The themes of exploration of energy resources, exploration of minerals, groundwater exploration and processing and mineral engineering are separated out into sections and chapters included in these sections include case studies focusing on tools and techniques for exploration. Innovative Exploration Methods for Mineral, Oil, Gas, and Groundwater for Sustainable Development gives insight to modern concepts of exploration for those working in the various fields of energy, mineral, and groundwater exploration. Presents innovative research that will both challenge and complement the traditional concepts of exploration Covers a wide range of instruments and their applications, as well as the tools and processes that need to be followed for modern exploration work Includes research on groundwater exploration with a focus on conservation and sustainable exploration and development
Introduction to Geological Uncertainty Management in Reservoir Characterization and Optimization by Reza Yousefzadeh,Alireza Kazemi,Mohammad Ahmadi,Jebraeel Gholinezhad Pdf
This book explores methods for managing uncertainty in reservoir characterization and optimization. It covers the fundamentals, challenges, and solutions to tackle the challenges made by geological uncertainty. The first chapter discusses types and sources of uncertainty and the challenges in different phases of reservoir management, along with general methods to manage it. The second chapter focuses on geological uncertainty, explaining its impact on field development and methods to handle it using prior information, seismic and petrophysical data, and geological parametrization. The third chapter deals with reducing geological uncertainty through history matching and the various methods used, including closed-loop management, ensemble assimilation, and stochastic optimization. The fourth chapter presents dimensionality reduction methods to tackle high-dimensional geological realizations. The fifth chapter covers field development optimization using robust optimization, including solutions for its challenges such as high computational cost and risk attitudes. The final chapter introduces different types of proxy models in history matching and robust optimization, discussing their pros and cons, and applications. The book will be of interest to researchers and professors, geologists and professionals in oil and gas production and exploration.
M. B. J. Bowman,Helen R. Smyth,Timothy R. Good,S. R. Passey,J. P. P. Hirst,Colm J. Jordan
Author : M. B. J. Bowman,Helen R. Smyth,Timothy R. Good,S. R. Passey,J. P. P. Hirst,Colm J. Jordan Publisher : Unknown Page : 268 pages File Size : 54,6 Mb Release : 2016 Category : Electronic book ISBN : 1523122609
The Value of Outcrop Studies in Reducing Subsurface Uncertainty and Risk in Hydrocarbon Exploration and Production by M. B. J. Bowman,Helen R. Smyth,Timothy R. Good,S. R. Passey,J. P. P. Hirst,Colm J. Jordan Pdf
Field studies over a range of scales have been important in the upstream oil and gas industry for decades. Advances in digital outcrop characterization and data capture, coupled with increased computational capabilities, have resulted in a resurgence in fieldwork; these field studies are required to develop depositional, stratigraphic and structural concepts and provide the data which underpin the current generation of complex, computer generated, 3D subsurface models. These models provide an informed means of benchmarking the subsurface along with a more considered view of subsurface uncertainty and management of the risks identified. The papers in this volume cover safety in the field, frontier basin petroleum system assessment, field appraisal and development including unconventional resources, applications of techniques such as LiDAR and 3D photogrammetry, and uncertainty characterization. The studies were undertaken in diverse locations such as the Faroe Islands, Italy, Algeria, India, the USA and Trinidad; they represent a range of tectonic settings and a wide geological time frame. The spectrum of papers is testament to the value and integral position that fieldwork occupies within the modern hydrocarbon industry.
Introduction to Petroleum Exploration and Engineering by Andrew Palmer Pdf
This book is an introduction to oil and gas designed to be both accessible to absolute beginners who know nothing about the subject, and at the same time interesting to people who work in one area (such as drilling or seismic exploration) and would like to know about other areas (such as production offshore, or how oil and gas were formed, or what can go wrong). It begins by discussing oil and gas in the broader context of human society, and goes on to examine what they consist of, how and where they were formed, how we find them, how we drill for them and how we measure them. It describes production onshore and offshore, and examines in detail some instructive mishaps, including some that are well known, such as Deepwater Horizon and Piper Alpha, and other lesser known incidents. It looks at recent developments, such as shale oil, and concludes with some speculation about the future. It includes many references for readers who would like to read further. Mathematical content is minimal.
