Neural Networks And Other Soft Computing Techniques With Applications In The Oil Industry

This comprehensive book highlights soft computing and geostatistics applications in hydrocarbon exploration and production, combining practical and theoretical aspects. It spans a wide spectrum of applications in the oil industry, crossing many discipline boundaries such as geophysics, geology, petrophysics and reservoir engineering. It is complemented by several tutorial chapters on fuzzy logic, neural networks and genetic algorithms and geostatistics to introduce these concepts to the uninitiated. The application areas include prediction of reservoir properties (porosity, sand thickness, lithology, fluid), seismic processing, seismic and bio stratigraphy, time lapse seismic and core analysis. There is a good balance between introducing soft computing and geostatistics methodologies that are not routinely used in the petroleum industry and various applications areas. The book can be used by many practitioners such as processing geophysicists, seismic interpreters, geologists, reservoir engineers, petrophysicist, geostatistians, asset mangers and technology application professionals. It will also be of interest to academics to assess the importance of, and contribute to, R&D efforts in relevant areas.

This volume presents a collection of articles on state-of-the-art soft computing and AI applications that cover broad domains and many disciplines. The authors explain the evolution of the mathematics behind the intelligent systems; consider fuzzy logic and neural network applications; and explore several AI applications.

Soft computing techniques are widely used in most businesses. This book consists of several important papers on the applications of soft computing techniques for the business field. The soft computing techniques used in this book include (or very closely related to): Bayesian networks, biclustering methods, case-based reasoning, data mining, Dempster-Shafer theory, ensemble learning, evolutionary programming, fuzzy decision trees, hidden Markov models, intelligent agents, k-means clustering, maximum likelihood Hebbian learning, neural networks, opportunistic scheduling, probability distributions combined with Monte Carlo methods, rough sets, self organizing maps, support vector machines, uncertain reasoning, other statistical and machine learning techniques, and combinations of these techniques. The businesses or business problems addressed in this book include (or very closely related to): analysis of correlations between currency exchange rates, analysis of USA banks and Moody’s bank financial strength rating, arrears management, business risk identification, company audit fee evaluation, dental treatments, business internal control, intelligent tutoring systems and educational assessment, modeling agent behavior, motor insurance industry, personal loan defaults, pricing strategies for increasing the market share, pricing strategies in supply chain management, probabilistic sales forecasting, user relevance feedback analysis for online text retrieval, and world crude oil spot price forecasting.

Applying machine learning to the interpretation of seismic data Seismic data gathered on the surface can be used to generate numerous seismic attributes that enable better understanding of subsurface geological structures and stratigraphic features. With an ever-increasing volume of seismic data available, machine learning augments faster data processing and interpretation of complex subsurface geology. Meta-Attributes and Artificial Networking: A New Tool for Seismic Interpretation explores how artificial neural networks can be used for the automatic interpretation of 2D and 3D seismic data. Volume highlights include: Historic evolution of seismic attributes Overview of meta-attributes and how to design them Workflows for the computation of meta-attributes from seismic data Case studies demonstrating the application of meta-attributes Sets of exercises with solutions provided Sample data sets available for hands-on exercises The American Geophysical Union promotes discovery in Earth and space science for the benefit of humanity. Its publications disseminate scientific knowledge and provide resources for researchers, students, and professionals.

Machine Learning and Data Science in the Oil and Gas Industry explains how machine learning can be specifically tailored to oil and gas use cases. Petroleum engineers will learn when to use machine learning, how it is already used in oil and gas operations, and how to manage the data stream moving forward. Practical in its approach, the book explains all aspects of a data science or machine learning project, including the managerial parts of it that are so often the cause for failure. Several real-life case studies round out the book with topics such as predictive maintenance, soft sensing, and forecasting. Viewed as a guide book, this manual will lead a practitioner through the journey of a data science project in the oil and gas industry circumventing the pitfalls and articulating the business value. Chart an overview of the techniques and tools of machine learning including all the non-technological aspects necessary to be successful Gain practical understanding of machine learning used in oil and gas operations through contributed case studies Learn change management skills that will help gain confidence in pursuing the technology Understand the workflow of a full-scale project and where machine learning benefits (and where it does not)

In most oil exploration and production problems, we deal with limited and incomplete data. We are constantly trying to extrapolate information from sparse measurements, for example, sparse well data and limited core measurements on the one hand and large volumes of seismic data with limited spatial resolution on the other hand. We resort to statistical methods to accomplish the data extrapolation and the integration of diverse data sets in constructing a coherent and meaningful model of the subsurface. Traditional statistical methods both for spatial and temporal extrapolation have been used in E&P for several decades. One of the main uses of statistics has been for reservoir characterization through integrating information and data from various sources with varying degrees of uncertainty such as log, well tests, and seismic data. Other applications include establishing relationships between measurements and reservoir properties, and reserve estimation and oil field economics along with the associated risk factors.

This dissertation will discuss the uncertainty encountered in the daily operations of businesses. The concepts will be developed by first giving an overview of probability and statistics as used in our everyday activities, such as the basic principles of probability, univariate and multivariate statistics, data clustering and mapping, as well as time sequence and spectral analysis. The examples used will be from the oil and gas exploration industry because the risks taken in this industry are normally quite large and are ideal for showing the application of the various techniques for minimizing risk. Subsequently, the discussion will deal with basic risk analysis, spatial and time variations of risk, geotechnical risk analysis, risk aversion and how it is affected by personal biases, and how to use portfolios to hedge risk together with the application of real options. Next, fractal analysis and its application to economics and risk analysis will be examined, followed by some examples showing the change in the Value at Risk under Fractal Brownian Motions. Finally, a neural network application is shown whereby some of these risks and risk factors will be combined to forecast the best possible outcome given a certain knowledge base. The chapters will discuss: Basic probability techniques and uncertainty principles Analysis and diversification for exploration projects The value and risk of information in the decision process Simulation techniques and modeling of uncertainty Project valuation and project risk return Modeling risk propensity or preference analysis of exploration projects Application of fractals to risk analysis Simultaneous prediction of strategic risk and decision attributes using multivariate statistics and neural networks"