Real-time Decision-making for Value Creation while Drilling

L. Saputelli, M. Economides, M. Nikolaou, V. Kelessidis

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract

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.

Original languageEnglish
Title of host publicationSPE/IADC Middle East Drilling Technology Conference and Exhibition - Tehcnology and Value: Archieving the Right Balance
Pages193-211
Number of pages19
Publication statusPublished - 2003
Externally publishedYes
EventSPE/IADC Middle East Drilling Technology Conference and Exhibition - Technology and Value: Achieving the Right Balance - Abu Dhabi, Saudi Arabia
Duration: 20 Oct 200322 Oct 2003

Other

OtherSPE/IADC Middle East Drilling Technology Conference and Exhibition - Technology and Value: Achieving the Right Balance
CountrySaudi Arabia
CityAbu Dhabi
Period20/10/0322/10/03

Fingerprint

Drilling
Decision making
Well completion
Economics
Multilayers
Productivity
Earth (planet)
Uncertainty

ASJC Scopus subject areas

  • Engineering(all)

Cite this

Saputelli, L., Economides, M., Nikolaou, M., & Kelessidis, V. (2003). Real-time Decision-making for Value Creation while Drilling. In SPE/IADC Middle East Drilling Technology Conference and Exhibition - Tehcnology and Value: Archieving the Right Balance (pp. 193-211)

Real-time Decision-making for Value Creation while Drilling. / Saputelli, L.; Economides, M.; Nikolaou, M.; Kelessidis, V.

SPE/IADC Middle East Drilling Technology Conference and Exhibition - Tehcnology and Value: Archieving the Right Balance. 2003. p. 193-211.

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Saputelli, L, Economides, M, Nikolaou, M & Kelessidis, V 2003, Real-time Decision-making for Value Creation while Drilling. in SPE/IADC Middle East Drilling Technology Conference and Exhibition - Tehcnology and Value: Archieving the Right Balance. pp. 193-211, SPE/IADC Middle East Drilling Technology Conference and Exhibition - Technology and Value: Achieving the Right Balance, Abu Dhabi, Saudi Arabia, 20/10/03.
Saputelli L, Economides M, Nikolaou M, Kelessidis V. Real-time Decision-making for Value Creation while Drilling. In SPE/IADC Middle East Drilling Technology Conference and Exhibition - Tehcnology and Value: Archieving the Right Balance. 2003. p. 193-211
Saputelli, L. ; Economides, M. ; Nikolaou, M. ; Kelessidis, V. / Real-time Decision-making for Value Creation while Drilling. SPE/IADC Middle East Drilling Technology Conference and Exhibition - Tehcnology and Value: Archieving the Right Balance. 2003. pp. 193-211
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