Tag Archives: Statistics

Book review: Intelligent Systems in Oil Field Development under Uncertainty

How to know whether or not to produce an oil field, and how to know how? The oil industry is used to make a lot of simulations to satisfy the SEC rules, and to know how much oil they can drill today and in the future. This book goes further than just the usual how much from a field under specific condition, by adding the development plan as well as the oil price in the equation.

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