Value of information analysis and global optimization applied for reservoir development

Abstract

The University of Tokyo has established a research program Environment-harmonized Energy Development Laboratory sponsored by JX Nippon Oil & Gas Exploration Corporation JX NOEX to provide educational programs and conduct researches related to the energy resource development since 2013. The purpose of our laboratory is to optimize operational activities at various stages on energy resources development projects, which ranges from information gathering to development and even production. We aim at establishing novel methodologies to attain improved recovery factor while managing environmental disturbance properly. Our research is especially focusing on the value of information analysis and global optimization and brie y introduced in this paper. Keywords value of information, global optimization, decision making under uncertainty 29 6 15 29 This paper was presented at the 2017 JAPT Development and Production Technology Symposium entitled Technical approaches through eld life for maximizing project value held in Tokyo,