Industry Article: Optimizing Optimization

New software technology is revolutionizing reservoir simulation

New software technolog is revolutionizing reservoir simulation

Publication Date: 11/30/2011

Find and producing oil gets more difficult and more expensive every year. Petroleum companies are spending billions of dollars drilling remote prospects and developing new ways of bringing crude to surface, but the only sure bet is that the financial risks are always increasing. Over the last several years, a new software tool as emerged that is not only taking some of the uncertainty out, but also improving the chances of success and reducing the workload for geoscientists and engineers—optimization software. Optimization software works hand-in-hand with the simulation software that allows engineers to model reservoir geology, potential oil and gas output, and the most efficient surface facilities, pipeline networks and other infrastructure needed to produce the field. Simulation software has been around for decades, with the majority of firms using vendor software ranging from simple stand-alone programs to integrated suites marketing international service companies like Schlumberger.

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