The income and expenses of a mining project determine the project’s profitability. cash flow model is calculated by multiplying selling price mineral reserves. Expenses represent outcome-related section project. However, these three factors profit determinants are highly uncertain. Real Option (RO) methodology was developed to account for uncertainties. To date, practice this method has been li...

Models of groundwater systems help to integrate knowledge about the natural and human system covering different spatial and temporal scales, often from multiple disciplines, in order to address a range of issues of concern to various stakeholders. A model is simply a tool to express what we think we know. Uncertainty, due to lack of knowledge or natural variability, means that there are always ...

The objective of most formulations of inverse modeling in the Earth Sciences is to estimate the model parameters given the observation data. In this paper, an additional element to these formulations is considered, namely, the prediction for which the models are built. An example of such modeling is the prediction of solute transport using geological models of the subsurface constrained to exis...

Abstract A geophysical Bayesian inversion problem may target the posterior distribution of geological or hydrogeological parameters given data. To account for scatter in petrophysical relationship linking to properties, this study treats intermediate properties as latent (unobservable) variables. perform such a variable model, intractable likelihood function (hydro)geological data needs be esti...

RESULTS Drilled four wells based on the model, successfully predicting the type and thickness of reservoir facies, enabling the operator to pursue optimal field development strategies with higher confidence in the distribution and connectivity of critical flow units. Modeling reservoir architecture with limited data After successfully developing Cretaceous reservoirs in several northern Kuwait ...

The use of digital information in geological fields is becoming very important. Thus, informatization in geological surveys should not stagnate as a result of the level of data accumulation. The integration and sharing of distributed, multi-source, heterogeneous geological information is an open problem in geological domains. Applications and services use geological spatial data with many featu...

A genetic algorithm is applied to the problem of conditioning the petrophysical rock properties of a reservoir model on historic production data. This is a difficult optimization problem where each evaluation of the objective function implies a flow simulation of the whole reservoir. Due to the high computing cost of this function, it is imperative to make use of an efficient optimization metho...

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