BRU21 video newsletter #3 - Field development and economics

BRU21 video newsletter #3 - Field development and economics


 BRU21: NTNU’s Research and Innovation Program in Digital and Automation Solutions for the Oil and Gas Industry. We mobilize multidisciplinary expertise across NTNU and, in cooperation with industrial partners, produce research results for novel technological and organizational solutions. The program consists of over 30 PhD and PostDoc projects supported by NTNU and 9 Oil and Gas and Technology companies. …read more

Video newsletters: In this series of newsletters we present BRU21 projects and selected results in the form of short videos covering each of the 6 program areas.

BRU21 program area: Field Development and Economics 
Developing smart methods for planning and development of offshore fields with high economic value and lower environmental footprint

BRU21 aims at developing novel automated tools to increase data analysis efficiency in the exploration workflows through modern computational methods, e.g. machine learning and artificial intelligence, combined with cross-disciplinary subsurface expertise…read more

BRU21 project:
Cost effective development of small discoveries on the Norwegian Continental Shelf

Using real options and decision analysis to find profitable ways to develop small discoveries 

Project result:
Staged development allows to get more value out of small discovery 

A study case showing that allowing for flexibility and updating with new information mitigates potential losses 

BRU21 Project:
Decision-support in early field development using mathematical programming

Finding fast optimal field designs and production strategies using optimization and stochastic analyses

Project result: 
Efficient formulation to find optimal production strategies matches reality

Two study cases showing that efficient optimization can provide valuable insights to field planning and matches reality

BRU21 Project: 
Methods to plan environmentally friendly offshore fields

How to develop offshore fields with low environmental footprint and high economic performance?