Reservoir Management is defining as the practical science of developing a hydrocarbon field in a manner that would maximize ultimate recovery. Intelligent Solutions, Inc. has introduced the concept of Real-Time Reservoir Management (RTRM) as the enabling technology for the emerging smart fields.

Real-Time Reservoir Management (RTRM) refers to a closed loop process during which the reservoir model is continuously updated based on the information and feedback from the reservoir in the form of high frequency data streams. The high frequency data streams reflects the consequences of the decisions that are made and implemented using the reservoir model closing the loop on RTRM.

Therefore, the reservoir model must have the capability of analyzing multiple scenarios in real-time (or near real-time) and provide real-time responses to changes that takes place in the field. ISI has developed Surrogate Reservoir Models (SRM) specifically to fulfill this requirement the smart fields.

Availability of high-frequency data streams opens new doors for effective and efficient operations of wells and the entire field. The wealth of data that is now available to operating companies calls for a paradigm shift on the way we approach problem solving in the E&P industry. Being well aware of our industry's urgent needs and requirements, ISI has put together an inventory of unique and novel workflows to address them in the most effective and efficient manner.

REFERENCES
Smart Fields