Essence
Products and Services has just announced EssRisk, a new tool for
reservoir production history matching, forecasting and optimisation.
EssRisk works alongside reservoir simulators such as Schlumberger’s
Eclipse, modifying parameters in the simulation deck and automating the
submission of simulation runs to ‘explore the modifier space in a
statistically valid manner.’ EssRisk includes hooks for pre and post
processing packages with links to seismic and geological modelling
packages.
According to
Essence CEO Nigel Goodwin, EssRisk’s methodology is better suited to
high dimensional complex problems than conventional random walk methods
which fail to explore the full problem space and which often produce
incorrect answers. The tool uses the latest probabilistic techniques
including Markov chain Monte Carlo methods and is a pure,
cross-platform Java implementation. EssRisk resulted from a collaborative research project with ConocoPhillips which is a user as is Shell. More from Essence.
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