Traditional reservoir modeling is in a crisis as oil fields worldwide are getting older. How to seamlessly integrate all the field data available, especially high quality seismic data, to improve the delineation of the remaining oil, has become a key question for those committed to achieving cost-efficient development of mature fields.
2 decades ago, reservoir geophysicists needed to convince management to acquire 4D seismic data. Today, we need to convince management why 4D data acquisition may not be required. North Sea experience of 4D seismic data acquisition, processing and interpretation, is truly valuable to the industry globally in the low oil price era, whether for reservoir management or placement of in-fill wells.
Before Quantum Computers become a reality and affordable, optimization of well placement, involving a countless number of possibilities, looks like a unreachable dream to many. By adopting the latest optimization algorithms and, reducing the dimensions of the problem, the solution to such big optimization problems can be achieved within a reasonable time frame. Trials have shown optimised well locations result in a 30 – 80% increase in production.’