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Strategic Institute Project - Flexible methods and tools for uncertainty analysis of complex systems

Strategic Institute Project - Flexible methods and tools for uncertainty analysis of complex systems

Building on knowledge accumulated over many years regarding measurement systems, uncertainty theory, present value analyses and optimization methodology, a research platform for allocation systems was built in this project.

The research platform is a cost-benefit analysis framework utilizing an "uncertainty brain" based upon system modeling and Monte Carlo simulation that can be used to answer relevant questions related to field and ownership allocation uncertainty.

Key questions that can be answered are:

  • Which measurement setup best balances financial risk and costs?
  • How is risk distributed between owners?
  • Which allocation methodology provides the most "fair" distribution of uncertainty in a life-cycle perspective?
  • How does the uncertainty and risk develop during the lifetime of the field?
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Contact

Ranveig Nygaard Bjørk

Research Director Measurement Science - Bergen

rabj@norceresearch.no
+47 913 35 305

Project facts

Name

Strategic Institute Project - Flexible methods and tools for uncertainty analysis of complex systems

Status

CONCLUDED

Duration

01.06.14 - 31.12.17

Location

Bergen

Total budget

6.000.000 NOK

Research areas

Research group

Funding

Christian Michelsen Research

Prosjekteier

NORCE

Project members

Armin Pobitzer
Ingvar Henne
Publications
Cost saving metering station maintenance for allocation systems – Bjørk, Ranveig Nygaard; Skålvik, Astrid Marie; Pobitzer, Armin. 2017, . NORCE.
Systematic bias in pro rata allocation schemes – Pobitzer, Armin; Bjørk, Ranveig Nygaard; Skålvik, Astrid Marie. 2017, . NORCE.
Allocation system setup optimization in a cost-benefit perspective – Pobitzer, Armin; Skålvik, Astrid Marie; Bjørk, Ranveig Nygaard. 2016, Journal of Petroleum Science and Engineering. NORCE.
See all publications in Cristin
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Contact

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NO-5838 Bergen

E-mail: post@norceresearch.no

Phone: +47 56 10 70 00

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