Norway: SPT Group Unveils New Reservoir Management Software Solution
- Business & Finance
SPT Group has released MEPO 4, the next generation of its market- leading solution for optimising reservoir flow models. Used by oil and gas companies for risk reduction, uncertainty management, well location optimisation and assisted history matching, MEPO helps reduce cost and cycle times at all stages of the reservoir management decision chain.
MEPO has, since the first commercial release in 2004, become the industry standard for automation and optimisation of simulation workflows. MEPO4 is the next generation release of this unique technology – expanding the offering to become a complete productivity suite for upstream modelling and simulation projects. The new MEPO release brings to market the industry’s first model for rigorous optimisation under uncertainty. Removing uncertainty is not possible, but MEPO now enables geoscientists and reservoir engineers to understand and manage it better, to optimise development plans, drainage strategies and well targets even, with imperfect information.
Other new capabilities include a field management library making it even easier for engineers to optimise plateau length, well locations, well scheduling and production strategies. A redesigned user interface and new 3D visualisation technology (3DViz module) significantly improves the understanding and analysis of different reservoir scenarios.
Commenting on the new release, Stig Selberg, Executive Vice President of Reservoir Optimisation at SPT Group said : ‘MEPO4 is fast becoming the ultimate desktop application for all simulation projects targeting improved production, reservoir management and understanding of modelling and production uncertainties.
Offshore Energy Today Staff, December 5, 2011; Image: SPT Group