Oil and gas assets are made up of interconnected, dynamic systems and processes. However, because traditional asset modeling is a static and serial process, it cannot account for the complexity that arises from the interdependencies and dynamic nature of E&P assets. Today, experts are addressing this challenge through integrated asset modeling that links simulators across technical disciplines, assets, computing environments, and locations.
Integrated asset modeling represents a shift in oil and gas field management. This collaborative methodology allows engineers to account for complex production operations, the increasing quantity and nature of acquired data, and the need for rapid data analysis. The technique delivers more accurate models with which field development engineers are able to optimize production.
An Oilfield Review Defining Series article “Integrated Asset Modeling” provides an overview of this methodology that is able to provide operators a clear picture of field behavior, production potential, and economics over the life of the asset.
The Defining Series provides E&P professionals with concise, authoritative, up-to-date summaries of a wide range of industry topics. See the “Integrated Asset Modeling” article as well as other Defining Series articles here.
Oilfield Review is the Schlumberger flagship journal of technology, innovation and the science of E&P.