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Institutional Repository [SANDBOX]
Technical University of Crete
Technical University of Crete
EN
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| URI: | http://purl.tuc.gr/dl/dias/F4013379-AEBD-46C9-A807-BF05F54C769E | ||
| Year | 2003 | ||
| Type of Item | Conference Full Paper | ||
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| Bibliographic Citation | L. Saputelli, M. Economides, M. Nikolaou, V.C. Kelessidis, "Real-Time Decision Making for Value Creation while Drilling", in 2003 Middle East Drilling Technology Conference and Exhibition (IADC), doi: http://dx.doi.org/10.2118/85314-MS https://doi.org/http://dx.doi.org/10.2118/85314-MS | ||
| Appears in Collections |
Geological and operational uncertainties usually impair the ability of operators to achieve technical and economic goals of a drilling project. Use of real-time data integrated to the earth model has recently reduced the above uncertainties, thus improving project performance. However, the above solution has only addressed part of the overall problem of optimizing the well's economics, it cannot easily cope with the rapidly increasing amounts of data collected while drilling, and it has not been fully integrated with the control of operations yet. Therefore, we propose a multilayer and multiscale integrated strategy for decision-making while drilling and in well intervention and maximi. The proposed strategy aims to simultaneously optimize in Real-time the following four objectives (a) operational drilling performance, (b) initial well completion design, (c) well productivity and (d) value creation. By seeking to optimize an overall integrated objective rather than individual ones, the proposed strategy creates the possibility of achieving a solution that is superior to the aggregate of individually optimized solutions. In this paper we outline the strategy mentioned above and discuss recent applications that support our proposition.
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