The technical presentation “GRIP on Uncertainties: An Alternative way of looking at Value of Information” will be given by Shyam Ramaswami, from Shell International E&P BV
Abstract:
Understanding the uncertainty space of rock and fluid properties and managing them accordingly is the most important task that subsurface teams face. Being able to quantify and articulate the “handle”, or GRIP, on uncertainties is generally difficult, and typically requires good understanding of what data is available, and what geological variations can be observed.
When trying to describe a subsurface field, most uncertainties have two main elements to them : geological variation, or variation in properties both laterally and vertically that are real and driven by geological factors; and gaps in data or understanding, or “white space”. Breaking uncertainties that are carried into these two elements isn’t systematically done often. If this can indeed be systematically done, it would then be possible to assign value to getting more information for a particular uncertainty, allowing for much better articulation and justification of what benefit obtaining more information, typically through data gathering methods, may bring to better handle on uncertainty, and hence lead to better project decision making.
This talk proposes a method to do this, and subsequently allows for visual representation of this GRIP on uncertainty, informing on value of information, hence value of further data acquisition, in a more intuitive manner than traditional VOI methods.
Bio:
Shyam Ramaswami is a distinguished Global Manager for E&A Evaluation at Shell (FEAST), specializing in petrophysics, dynamic testing, rock & fluid analysis and integrated reservoir description. With over 22 years of experience, he leads a multidisciplinary team responsible for data acquisition, well delivery, and reservoir quality control across key exploration and appraisal projects worldwide. Shyam has played a pivotal role in projects from the Gulf of Mexico to Namibia to the Far East, with a focus on integrating petrophysical interpretations, core, and fluid analysis into static and dynamic subsurface modeling. Currently, Shyam also heads the reservoir evaluation for Shell’s Namibia Deepwater project, where his leadership in reservoir evaluation and his technical expertise in fluid properties and static to dynamic permeability studies have been instrumental in shaping subsurface strategies. Known for his ability to bridge technical insight with business impact, Shyam has been a key figure in the development of ways to link information gathering in the front end to Project Decisions at various stages of the Hydrocarbon Maturation process and has led the deployment of cutting-edge technology strategies in early dynamic testing and fluid understanding to increase Project Decision Quality, further cementing his reputation as a global technical leader.