AGORA workshop participants learn all about understanding uncertainty and managing risk

Abstract

The AGORA (Advanced Geoscience Organized for Reservoir Applications) mission is to address a series of themes on a tri-annual rotating basis that have, and will continue to have, a long-term interest for the professionals in both societies. The aspiration is that the EAGE/EUROPEC AGORA would provide
justice for all attempts at integration. In each theme there will be a clear link between technology, people, communication, and the need for a business decision. The first AGORA workshop was held at the 2011 EAGE conference in Vienna and the theme was ‘Effective models leading to business solutions’.

The theme for this second AGORA workshop at the 2012 EUROPEC conference in Copenhagen was ‘Understanding uncertainty and managing risk’. Leading technical authorities in geoscience and reservoir
management provided presentations in their relevant discipline areas. The learning points on the theme were then developed through application and discussions in a cross-disciplinary team exercise on a real reservoir problem – deciding whether to spend the budget for a single well on a problematic production area (challenge) or on an undeveloped block (prize).