Reservoir characterization is a time intensive but strategic component of field appraisal and development projects. In today's environment of reduced manpower and increased field acquisitions, it is imperative that a consistent, value-adding methodology be utilized to minimize the time component of 3D reservoir modelling without sacrificing quality. To formulate this methodology, four projects were examined from Conoco's world-wide appraisal/ development portfolio. Project selection was based on diversity in environment (onshore and offshore), diversity in reservoir type (carbonate reefs, fractured carbonate mounds, fluvio-deltaic channels, and tidal sand ridges), diversity in project uncertainties (00IP, reserves, well performance, and reservoir continuity or compartmentalization), application of diverse tools and methodologies (stochastic venus deterministic modelling), and availability of original project team members. Project life cycles varied from four to eight years.

This effort resulted in the identification of “best practices” and the formulation of a recommended work flow. Key findings include; establish and maintain an integrated multi-disciplinary team throughout the project, use sensitivity analysis to identify critical risks/uncertainties at the onset of the project, implement a consistent, probabilistic approach to quantify uncertainty on all project components, acquire critical dynamic data early, and conduct parallel or ongoing geological and reservoir modelling throughout the project life cycle.

Implementation of the work flow should reduce project cycle time, minimize risk/uncertainties, ensure that activities are focused and value-driven, facilitate “what-if” modelling to enable a pro-active not reactive response to inevitable surprises, and ultimately, maximize a project's net present value.

AAPG Search and Discovery Article #90937©1998 AAPG Annual Convention and Exhibition, Salt Lake City, Utah