2005
DOI: 10.1081/lft-200031057
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Quantification of Uncertainty by Combining Forecasting with History Matching

Abstract: Quantifying uncertainty in production forecasts is critical to making good reservoir management decisions, particularly for many current investment opportunities that require intensive technology and large investments, and that may have marginal profitability indicators. Reservoir studies are conducted to support decision making, but reservoir management decisions must often be made before completion of these studies. This paper presents a new approach to reservoir studies that combines production forecasting … Show more

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Cited by 7 publications
(4 citation statements)
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“…Gu and Oliver (2004) applied the Kalman filter method to obtain automatic multiple history matching for subsequent estimation of the predictions uncertainty. Alvarado et al (2005) pointed out the importance of quantification of uncertainty in production predictions. A procedure that considers probability distribution of the prediction period based on the quality and weight attributed to the matching of a defined objective-function for the history period was proposed.…”
Section: Literaturementioning
confidence: 99%
“…Gu and Oliver (2004) applied the Kalman filter method to obtain automatic multiple history matching for subsequent estimation of the predictions uncertainty. Alvarado et al (2005) pointed out the importance of quantification of uncertainty in production predictions. A procedure that considers probability distribution of the prediction period based on the quality and weight attributed to the matching of a defined objective-function for the history period was proposed.…”
Section: Literaturementioning
confidence: 99%
“…Assessing uncertainty in production forecasts by constructing a synthetic reservoir model, Varela et al (2006) verified that the seismicamplitude data did not uniformly improve the variability of the predictions of water-breakthrough time. Alvarado et al (2005) proposed a procedure that includes likelihood of the forecast period on the basis of the quality of the match along with the objective function (OF). In other words, for a given number of history-match runs, weighted mean and standard deviations of the corresponded-forecast runs are calculated and this information is used to guide the history match and, at the same time, to generate confidence intervals of the prediction profiles.…”
Section: Introductionmentioning
confidence: 99%
“…Moreover, even with access to the code, the implementation is not trivial. Alvarado et al (2005) proposed a procedure that includes likelihood of the forecast period based on the quality of the match along with the objective function. In other words, for a given number of history match runs, weighted mean a standard deviation of the corresponded forecast runs are calculated and this information are used to guide the history match and at the same time to generate confidence intervals of the prediction profiles.…”
Section: Introductionmentioning
confidence: 99%