Uncertainty evaluation applied to a stochastic history match study -White Paper-

With current pressured market condition, understanding the uncertainties and risks associated  with a particular project is crucial when an investment decision have to be taken.

Uncertainty is a state of having limited knowledge of current conditions or future outcomes. It is a major component of risk, which involves the likelihood and scale of negative consequences, in order to minimize the risk that managers’ decisions will lead to undesired outcomes a well-supported decision frame have to be placed, using all possible resources and techniques including stochastic assessments base on simulation models.

This white paper describe a proved methodology used to evaluate and quantify subsurface uncertainty in a reservoir model used as basis for decision making.


Jesus Aponte
Reservoir Engineering Consultant at
Primera Reservoir LTD