STOCHASTIC Simulation claims it has unleashed the world’s fastest reservoir simulator in its new product, ResAssure.

The company said ResAssure can compute more than one million realisations within 24 hours, a fraction of the time it currently takes.

By enabling faster and more accurate analysis of dynamic subsurface geological data than has previously been possible, ResAssure markedly reduces the risk in the development of oil and gas fields by narrowing the range of uncertainty in reserves estimates, in turn supporting better production and financing decisions, with substantial increases likely in a projects return on investment.

ResAssure chief technology officer Andrew Wadsley said the product could generate more accurate reserve estimates than possible today.

The claim is supported by the approach taken, which generates a complete distribution of history matched models all of which are consistent with the geological model and observed production history.

“The time taken for this is orders of magnitude faster than current history matching methods,” Dr Wadsley said.

“Field development planning based on ResAssure’s distribution of models (rather than on a single history-matched model using conventional methodologies) will significantly reduce uncertainty and risk.”

Dr Wadsley went on to say that ResAssure’s innovation in reservoir simulation solved fully-implicit, dynamic three-phase fluid f low equations for every geological realisation.

The breakthrough was achieved by a combination of proprietary algorithms, polygonal gridding and aggressive spatial coarsening and time stepping.

The product also enabled optimised recovery and production and a better understanding of reservoir uncertainty.