Analytical Modeling and Improved Decision-Making: A Steam-Solvent Co-Injection Case Study
Mohsen Keshavarz
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Abstract
This presentation shows that the awareness of the importance of uncertainty has resulted in a paradigm shift in forecasting objectives in the oil and gas industry. The choice of modeling tool is a function of the scope and the decisions being made (one size does not fit all!). The following trade-offs can help making a fit-for-purpose choice of the modeling tool:
–Complexity vs. error
–Complexity vs. efficiency (time and resources)
–Identifiability vs. flexibility
–Identifiability vs. predictive capability