18537249. METHOD AND SYSTEM USING STOCHASTIC ASSESSMENTS FOR DETERMINING AUTOMATED DEVELOPMENT PLANNING simplified abstract (Saudi Arabian Oil Company)
Contents
METHOD AND SYSTEM USING STOCHASTIC ASSESSMENTS FOR DETERMINING AUTOMATED DEVELOPMENT PLANNING
Organization Name
Inventor(s)
Mahesh Narayanan of Al Khobar (SA)
Mehaboob Abdulaziz of Dhahran (SA)
Khadija Bukhamsin of Dhahran (SA)
METHOD AND SYSTEM USING STOCHASTIC ASSESSMENTS FOR DETERMINING AUTOMATED DEVELOPMENT PLANNING - A simplified explanation of the abstract
This abstract first appeared for US patent application 18537249 titled 'METHOD AND SYSTEM USING STOCHASTIC ASSESSMENTS FOR DETERMINING AUTOMATED DEVELOPMENT PLANNING
Simplified Explanation: The patent application describes a method for assessing geological regions, developing reservoir plans, and implementing well operations based on stochastic assessments and well data.
Key Features and Innovation:
- Determining stochastic assessments for geological regions based on well data and a stochastic model.
- Automatically generating reservoir development plans based on screening criteria and stochastic assessments.
- Adjusting reservoir development plans based on updated stochastic assessments.
- Transmitting commands to control systems for well operations based on adjusted reservoir development plans.
Potential Applications: This technology can be applied in the oil and gas industry for optimizing reservoir development and well operations in geological regions of interest.
Problems Solved: This technology addresses the challenges of accurately assessing geological regions, developing effective reservoir plans, and optimizing well operations based on stochastic assessments.
Benefits:
- Improved accuracy in assessing geological regions.
- Enhanced efficiency in developing reservoir plans.
- Optimized well operations for increased productivity.
Commercial Applications: The technology can be used by oil and gas companies to streamline reservoir development processes, improve well performance, and maximize production output.
Prior Art: Researchers can explore prior art related to stochastic modeling in reservoir engineering and well operations to understand the existing technologies in this field.
Frequently Updated Research: Stay informed about the latest advancements in stochastic modeling, reservoir engineering, and well operation optimization to enhance the application of this technology.
Questions about Stochastic Assessment and Reservoir Development: 1. How does stochastic assessment improve the accuracy of reservoir development plans? 2. What are the key factors to consider when adjusting reservoir development plans based on updated stochastic assessments?
Original Abstract Submitted
A method may include determining a first stochastic assessment for a geological region of interest based on first well data, mechanical failure data, and a stochastic model. The method may further include generating, automatically based on a screening criterion and the first stochastic assessment, a reservoir development plan for the geological region of interest. The method may further include determining a second stochastic assessment for the geological region of interest based on second well data and the stochastic model. The method may further include adjusting, automatically based on the screening criterion and the second stochastic assessment, the reservoir development plan to produce an adjusted reservoir development plan. The method may further include transmitting, to a control system coupled to a well, a command that implements a well operation in the adjusted reservoir development plan.
