Stochastic Simulation Limited (SSL) has developed a proprietary and innovative technology for quantifying the effects of uncertainty in sub-surface Oil & Gas reservoirs:
the Stochastic Reservoir Engine (SRE).
The company uses a completely novel approach to reservoir simulation that enables petroleum engineers to analyse data gathered from Oil & Gas fields more efficiently and more accurately than ever before. The end result is a better understanding of sub-surface uncertai nty through a thorough statistical examination of tens of thousands, in some cases even millions, of possible outcomes, all of which honour the real world input data. This means that the option of having to make do with just a few select models to guide development planning, the situation that has existed
in the industry since reservoir simulation began, is now a thing of the past.
In practical terms, this enhanced understanding allows better decisions to be made in an industry where multi-million dollar investment decisions are considered the norm. In a published case study using the SRE methodology, it was shown that a 15% increase in the value of an oil field investment was identified. This translates into an enormous dollar benefit to those operating the field.
In simple terms the SRE offers the highest level of assurance with respect to reserves quantification available in the petroleum industry today and as such will
be of great interest to operators, investors and government agencies.
Subscribers Area
To access the SRE subscribers area click here....
Latest News
24 Aug 10 - SSL signs support agreement with Paradigm
SSL recently signed a technical support and revenue sharing agreement with Paradigm. This agreement introduces new revenue streams to SSL and extends SSL's relationships to major oil and gas multinationals
7 Jul 10 - Beyond Experimental Design - SRE
Dr Wadsley presented SRE to the Perth WA Chapter of SPE on 7 July 2010
7 Jul 10 - 2010 IAward won by SSL
The 2010 AIIA WA IAward for Industrial Applications was presented to SSL at the AIIA award ceremony held at KPMG office in Perth. SSL also won the 2009 award
