A recent lecture held in Perth Western Australia by Dr Andrew Wadsley has received considerable views and commentry. For those of you in the industry ans associated with production forecasting, planning, scheduling and field development we strongly suggest watching the lecture.

[link Point to another website Only the registered members can access]
Integrated asset models provide a pathway for planners and engineers to combine their views from often conflicting objectives. Integrated asset modelling (IAM) tools enable optimal hydrocarbon resources to be recovered by oil and gas companies. The details required for building an asset model depend on the type of optimisation problem we strive to address. It is common practice for E&P companies to use the same tools for optimising different types of reservoirs; however gas reservoirs are significantly different to manage when compared to oil reservoirs.

Asset management teams in E&P companies, joint venture partners and Government regulatory authorities rely upon the Integrated Asset Models for making informed decisions.

There are a number of applications for IAMs and the presentation focusses on:
How IAM is important as a corporate planning tool
How market based models provide robust optimisation for oil and natural gas exploration
and production
Facility representation in IAM – how much detail is optimal and for what purpose
How to find system bottlenecks and enforce facility constraints for field development optimisation
Good forecasting models – how they aid exploring challenging fields (High CO2, H2S etc)