Roxar, Statoil and the Research Council of Norway Team Up on R&D Project
Roxar reports that its FieldWatch project on right-time integration of production data in reservoir characterization and fluid flow simulations has been approved by the Norwegian Research Council for funding from its PETROMAKS Research & Development (R&D) program.
PETROMAKS is one of Norway's major research programs and is governed by the Research Council of Norway. PETROMAKS is assisting the Norwegian government in the implementation of its strategy initiative OG21 (Oil and Gas in the 21st century), which addresses the needs of the oil companies, the supply and service industries and the petroleum-related R&D sector.
Roxar's initial partner on this joint industry project is Statoil and the project is funded one third each by Statoil, Roxar and PETROMAKS.
"We support this project because it is aligned with our vision of becoming a leader in the utilization of integrated operation concepts, and R&D to develop better methods and tools is an important part of our efforts in this area" adds Peter Eilsø Nilsen, Senior Advisor, Integrated Operations, Statoil. "The project is also a natural extension of the cooperation between Statoil and Roxar on improved reservoir modeling methods over the last 15 years."
The Norwegian Computing Center (NCC) is Roxar's main research partner on the FieldWatch™ project. NCC is a private, independent, non-profit research foundation . Petter Abrahamsen, Research Director at NCC comments: "This cooperation with Roxar and Statoil will allow us to maintain and further develop our unique competence in geostatistical reservoir characterization and integrated reservoir risk analysis."
Through R&D in collaboration with the NCC and Statoil's R&D center in Trondheim, Norway, Roxar will develop tools and methods that: 1) foster co-visualization and monitoring and co-analysis of reservoir and production data; 2) enable more realistic reservoir models; 3) improve the accuracy of production forecasts; 4) provide faster history matching; and 5) speed up reservoir management decision loops.
The end result of this three-year project will be a set of software modules integrated with Roxar's flagship 3D reservoir modeling software, IRAP RMS.
Andres Hatløy, Roxar's Vice President of Technology, continues:
"Through extensive research together with the NCC and Statoil's R&D center and the financial support from Statoil and the PETROMAKS R&D program, the FieldWatch™ project will help establish an important link between real-time production optimization and right time reservoir characterization and production forecasting; enabling our customers to receive the full benefit of the production data they acquire; and shorten the reservoir management decision cycles." He adds that "Roxar invented the seismic to simulation workflow concept and this project will enable us to pioneer a truly cross-disciplinary visualization and decision environment for reservoir management."
His words were backed up by Roxar CEO, Sandy Esslemont:
"Norway's oil and gas sector has a clear goal - to maximize reservoir performance. And the potential benefits are staggering – a mere one per cent in increased recovery from the Norwegian Continental Shelf would have a value of approximately NOK 500 billion (US$ 79 billion)."
"As one of Norway's leading oil services companies, Roxar is delighted to receive the support of PETROMAKS and Statoil. Through its ability to gather and use all relevant data, integrate seismic to production workflows and allow rapid and frequent updating of the shared earth model, we are confident that FieldWatch™ can bridge the gaps between the production engineer, reservoir engineer and production geologist, and help provide a seamless and fully integrated approach to reservoir management. This project also adds a new dimension to our long and close cooperation with Statoil, regarded as one of the world's most innovative oil companies."
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