Upstream companies today must achieve operational excellence by reducing emissions and utility demands, improving production at existing assets and replacing and expanding reserves while exhibiting capital discipline.

We are excited to announce OPTIMIZE 24, our worldwide user conference, taking place April 29–May 3 in Houston, Texas.

Accelerate commercialization at large scale across all stages of CCUS: capture, transportation, utilization and storage. Increase carbon project viability and reduce costs for long-term carbon storage.

Optimize production from upstream assets from the reservoir to separation and processing plants to maximize profitability and ensure ESG compliance.

Aspen Big Loop™ is an open ecosystem for setting up automated, reproducible and auditable subsurface workflows. The workflows help propagate uncertainties and capture their dependencies while calibrating reservoir models to observed data. The result is reliable probabilistic predictions.

Field development planning using reservoir models is a key step in the field development process. Numerical optimization of specific field development strategies is often used to aid planning, and Bayesian Optimization is a popular optimization method that has been applied in the past.

The Reykjanes reservoir, lying in a volcanic environment in Iceland, is assumed to contain supercritical fluids, whose energy content is about ten times higher than conventional geothermal systems. Drilling a well in this environment has to cope with very high temperature and pressure as well as an intensely fractured subsurface. A detailed well design can help minimize the likelihood of drilling and completion problems that could compromise the success of the project.