Optimize Asset Net Present Value(NPV) using Aspen Geolog

Use Aspen Geolog to capture and assess uncertainty at every stage of the petrophysical process. Quantify and reduce uncertainty through meticulous analysis and improve your investment decisions.

Audience:

Petroleum geologists, engineers and petrophysicists

Training Details

  • Course Id:

    GEO024

  • Duration:

    1 day(s)

  • CEUs Awarded:

    0.7

  • Level:

    Introductory

Benefits

Learn how to capture uncertainty at every step of the process and understand the value of quantifying petrophysical uncertainty on determining the NPV of an asset.

Approach

  • Clear guidance on fundamental topics
  • Industry workflows
  • Hands-on workshops
  • Experienced instructor-guided demonstrations
  • Q&A on student-specific problems

Pre-requisites

Basic knowledge of Geolog software and Petrophysics recommended

Subsequent Courses

GEO103

Agenda

Topic 1: Introduction to Petrophysical Uncertainty Theory

Learn the fundamentals of the petrophysical uncertainty and the impact of petrophysical parameters on reserves estimation by evaluating different probability scenarios.


Topic 2: Monte Carlo Simulation Overview Learn to include the Monte Carlo uncertainty in Geolog modules.

Workshop 1: Estimate uncertainties by applying Monte Carlo method in log analysis.

• Inclusion of Monte Carlo in the Shale Volume module

• Inclusion of Monte Carlo in a combination of multiple Loglan modules


Topic 3: Learn about Deterministic Uncertainty

Learn the Monte Carlo Uncertainty used in Geolog’s Deterministic Petrophysics Uncertainty workflow. Determine the probability distributions of porosity, saturation and permeability that help reservoir engineers evaluate risks.

Workshop 2: Learn to estimate uncertainties in Deterministic log analysis


Topic 4: Environmental Corrections Uncertainty Calculations


Topic 5: Deterministic Uncertainty Analysis


Topic 6: Perform Reserves Estimation

Learn to quantify the petrophysical uncertainty for a better understanding of reservoir behavior and to make accurate volumetric estimates.


Workshop 3: Reserves and NPV (Net Present Value) estimation


Topic 7: Learn about the Reservoir Summary Report


Topic 8: Learn to Perform Sensitivity Analysis

Register for a Class

Date Class Type Location Price Language

Aspen Technology, Inc. awards Continuing Education Units (CEUs) for training classes conducted by our organization. One CEU is granted for every 10 hours of class participation.