CoViz 4D: A Guide to Oil and Gas Risk Management
The many economical, geological, and operational aspects make the oil and gas industry a volatile and risk-prone sector. From planning and decision-making to actual implementation, there are many variables that increase the level of uncertainty for the asset team to manage.
Enhancing the Reliability of Risk Assessment
The qualitative and quantitative analysis of these uncertainties is required to gain a better insight into the subsurface environment. For geologists, geophysicists, reservoir and drilling engineers, and project managers, CoViz 4D can prove to be an ideal oil and gas risk management tool.
Using Data to Visualize Uncertainty
For uncertainty and risk analysis, CoViz 4D enables:
- Visual analysis of geological, geophysical, petrophysical and engineering subsurface characteristics
- Enhanced identification of geologic complexities (faults, fractures, lithology and stratigraphy) that may hinder drilling and recovery
- Spatial definition of producing and depleted zones for ideal well path planning
- Design of the trajectory of a well to avoid collision and improve target accuracy
Resources: Oil and Gas Risk Management
CoViz 4D: Ensuring Reliable Decision-Making with Uncertainty and Risk Mitigation
Visualizing uncertainty in velocity modeling helps to understand possible errors in the velocity modeling workflow. Data used by permission of owner.
CoViz 4D provides oil and gas professionals an ideal geospatial platform to collaborate and analyze multi-dimensional data for the identification of potential uncertainties which can prove to be economically damaging to the project. The various features of CoViz 4D can help the asset team to assess the risk early in the project with existing data as well as throughout the project as new data are gathered. With advanced co-visualization capability, it is possible for asset teams to make informed decisions which are crucial in reducing the risk associated with hydrocarbon development projects.