[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-seo-657354-105":3,"detail-sidebar-cat-0-en-105":74,"doc-detail-657354-en":124},{"code":4,"msg":5,"data":6},0,"ok",{"site_id":7,"language":8,"slug":9,"title":10,"keywords":11,"description":12,"schema_data":13,"social_meta":67,"head_meta":69,"extra_data":71,"updated_unix":73},105,"en","planning-software-streamlines-the-decision-process","Planning-software-streamlines-the-devision-process","","Software planning tools help reduce inconsistent decision-making in well projects by providing a generic decision support model that ranks and evaluates production and injection wells while accounting for risks and uncertainties. The approach integrates reserves estimation, production profiling, drilling cost and time estimation, and overall economics in a single workflow. Users can set desired model detail, add event probabilities, compare results via pre-defined reports, and run Monte Carlo simulations with visual outputs such as NPV, IRR, cash flow, and tornado diagrams.",{"@graph":14,"@context":66},[15,34,49],{"@type":16,"itemListElement":17},"BreadcrumbList",[18,23,27,31],{"item":19,"name":20,"@type":21,"position":22},"https://docshare.wps.com","Home","ListItem",1,{"item":24,"name":25,"@type":21,"position":26},"https://docshare.wps.com/document/","Document",2,{"item":28,"name":29,"@type":21,"position":30},"https://docshare.wps.com/document/technology/","Technology",3,{"item":32,"name":10,"@type":21,"position":33},"https://docshare.wps.com/document/planning-software-streamlines-the-decision-process/657354/",4,{"url":32,"name":10,"@type":35,"author":36,"headline":10,"publisher":39,"fileFormat":42,"inLanguage":8,"description":12,"dateModified":43,"datePublished":43,"encodingFormat":42,"isAccessibleForFree":44,"interactionStatistic":45},"DigitalDocument",{"name":37,"@type":38},"Maya Linwood","Person",{"url":19,"name":40,"@type":41},"DocShare","Organization","application/pdf","2026-10-26",true,{"@type":46,"interactionType":47,"userInteractionCount":4},"InteractionCounter",{"@type":48},"ViewAction",{"@type":50,"mainEntity":51},"FAQPage",[52,58,62],{"name":53,"@type":54,"acceptedAnswer":55},"How does the planning software improve decision-making in well projects?","Question",{"text":56,"@type":57},"It provides consistent ranking and evaluation by using a generic decision support model that integrates disciplines and accounts for risks and uncertainties.","Answer",{"name":59,"@type":54,"acceptedAnswer":60},"What disciplines are integrated into the single model?",{"text":61,"@type":57},"Reserves estimation, production profile generation, drilling cost estimation, drilling time estimation, and overall economics are combined into one model.",{"name":63,"@type":54,"acceptedAnswer":64},"How are uncertainty and economic outcomes calculated and presented?",{"text":65,"@type":57},"After data input, a Monte Carlo simulation computes expected monetary value and decision parameters, with results shown in predefined plots and tables including NPV, IRR, cash flow, and tornado diagrams.","https://schema.org",{"og:url":32,"og:type":68,"og:title":10,"og:site_name":40,"og:description":12},"article",{"robots":70,"canonical":32},"index,follow",{"doc_id":72,"site_id":7},657354,1792977810,{"code":4,"msg":75,"data":76},"success",[77,81,85,89,94,98,103,108,113,116,120],{"id":22,"doc_module":4,"doc_module_name":25,"category_name":78,"show_sort_weight":79,"slug":80},"Story & Novel",90,"story-novel",{"id":26,"doc_module":4,"doc_module_name":25,"category_name":82,"show_sort_weight":83,"slug":84},"Literature",80,"literature",{"id":33,"doc_module":4,"doc_module_name":25,"category_name":86,"show_sort_weight":87,"slug":88},"Exam",70,"exam",{"id":90,"doc_module":4,"doc_module_name":25,"category_name":91,"show_sort_weight":92,"slug":93},5,"Comic",60,"comic",{"id":95,"doc_module":4,"doc_module_name":25,"category_name":29,"show_sort_weight":96,"slug":97},6,50,"technology",{"id":99,"doc_module":4,"doc_module_name":25,"category_name":100,"show_sort_weight":101,"slug":102},7,"Healthcare",40,"healthcare",{"id":104,"doc_module":4,"doc_module_name":25,"category_name":105,"show_sort_weight":106,"slug":107},8,"Research & Report",30,"research-report",{"id":109,"doc_module":4,"doc_module_name":25,"category_name":110,"show_sort_weight":111,"slug":112},9,"Religion & Spirituality",20,"religion-spirituality",{"id":111,"doc_module":4,"doc_module_name":25,"category_name":114,"show_sort_weight":111,"slug":115},"World Cup","world-cup",{"id":117,"doc_module":4,"doc_module_name":25,"category_name":118,"show_sort_weight":117,"slug":119},10,"Lifestyle","lifestyle",{"id":121,"doc_module":4,"doc_module_name":25,"category_name":122,"show_sort_weight":90,"slug":123},19,"General","general",{"code":4,"msg":75,"data":125},{"doc_id":72,"user_id":126,"nickname":37,"user_avatar":127,"doc_module":4,"category_id":95,"category_name":29,"doc_title":10,"doc_description":12,"doc_content":128,"file_id":129,"file_url":130,"file_type":131,"file_size":132,"view_count":4,"is_deleted":4,"is_public":22,"is_downloadable":22,"audit_status":22,"page_count":26,"language":133,"language_code":8,"site_id":7,"html_lang":8,"table_of_contents":134,"faqs":135,"seo_title":136,"seo_description":12,"update_tm":73,"read_time":90},962084928432,"https://ap-avatar.wpscdn.com/davatar_155a257f0dc6eb9ab79c44ca47cae57d","SOFTWARE  \nPlanning software streamlines the decision process  \nInconsistent methods used in the well planning process can result in erroneous decisions that have significant impact on field economics. By using a generic decision support tool, well projects can be ranked and evaluated consistently to take all risks and uncertainties into account.  \n© IPRES  \nThe IPRES team is multicultural and benefits from extensive experience from different geographical regions and companies in the oil industry. \"We have experience ranging from project management of complex field development projects to reservoir engineering, geophysical interpretation and petroleum economics. We are equally strong in programming that uses advanced mathematics and statistics,\" says managing director Arvid Elvsborg.  \nErlend Glømmen, IPRES  \nT he latest decision support tool from  \nIPRES enables decision makers to  \nintegrate the disciplines of reserves estimation, production profile generation, drilling cost estimation, drilling time estimation and overall economics in one single model. According to the innovators, the tool is unique in that it integrates all the disciplines involved in well planning in a fit-for-purpose tool with particular focus on decision support.  \nCurrently, most oil and gas companies have their own internally developed tools that partly do the same job, but these often have significant shortcomings. Maintenance is also sometimes neglected and quality assurance poor.  \n\"This is why we think there is a market for this new software,\" says Arvid Elvsborg, managing director of IPRES.  \nRisks and uncertainties  \nThe new software application can be used to evaluate all types of production and injection wells. The desired degree of detail is set by the user to account for all relevant risks and uncertainties in a given well project.  \nOptions are available to model wells ranging from simple onshore single branch wells to complex offshore multibranch wells. The user selects the type of well upon initialisation of the model, for example a sub-sea well with sequential production from several reservoir targets. The user can also include case-specific  \nevents in the model. An example of this could be the probability for stuck pipe during drilling of a high-angle section of the well. The consequence of such events can be modelled with time delays, extra costs or sidetracking of the well.  \nFor the purpose of consistent ranking of well projects, pre-defined management reports are available that summarize all the results for easy comparison.  \n\"Our new planning tool-IPRISKWELL TM-is the result of 5 years of dedicated effort to develop a team with the necessary skills and experience to fully understand the clients decision support needs in upstream investment projects, and to develop software applications that reflect these needs. Starting off by providing consultancy services only, we have slowly moved into software development building on our experience from relevant projects,\" says Elvsborg.  \nIntegration of disciplines  \n\"An application should not only allow the users to model both simple and complex problems, it should also be an intuitive and easy-to-use tool and not demand practice or training. For the latest version, we have systematically gone through all menus, input pages and options to make sure that the user interface of the tool follows the user workflow. We are confident that the new version will be well received by new and current users and look forward to their response when it is released first quarter 2005,\" says Steinar Lyngroth, whois in charge of the risk team.  \nKey to triggering the development of the well planning software was the observation of poor integration of disciplines in the well planning process. In small as well as major oil and gas companies, there is limited time to approve new wells. The technical disciplines often work independently with little cross-communication. In the end, each discipline takes their high, ","cbCaisUEwMK6ip1V","https://ap.wps.com/l/cbCaisUEwMK6ip1V","pdf",114411,"English","# Risks and uncertainties\n## Options and model events\n# Integration of disciplines\n## User workflow and interface\n## Common data model and checklist\n# Complex fields\n## Evaluating multiple drilling options","[{\"question\":\"How does the planning software improve decision-making in well projects?\",\"answer\":\"It provides consistent ranking and evaluation by using a generic decision support model that integrates disciplines and accounts for risks and uncertainties.\"},{\"question\":\"What disciplines are integrated into the single model?\",\"answer\":\"Reserves estimation, production profile generation, drilling cost estimation, drilling time estimation, and overall economics are combined into one model.\"},{\"question\":\"How are uncertainty and economic outcomes calculated and presented?\",\"answer\":\"After data input, a Monte Carlo simulation computes expected monetary value and decision parameters, with results shown in predefined plots and tables including NPV, IRR, cash flow, and tornado diagrams.\"}]","Planning-software-streamlines-the-devision-process | PDF"]