RISK REDUCTION WITH A FUZZY EXPERT EXPLORATION TOOL
Incomplete or sparse information on types of data such as geologic or formation characteristics introduces a high level of risk for oil exploration and development projects. Expert systems developed and used in several disciplines and industries, including medical diagnostics, have demonstrated beneficial results. A state-of-the-art exploration expert tool, relying on a computerized data base and computer maps generated by neural networks, is proposed for development through the use of fuzzy logic, a relatively new mathematical treatment of imprecise or non-explicit parameters and values. Oil prospecting risk can be reduced with the use of a properly developed and validated ''Fuzzy Expert Exploration (FEE) Tool''. This tool will be beneficial in many regions of the US, enabling risk reduction in oil and gas prospecting and decreased prospecting and development costs. In the 1998-1999 oil industry environment, many smaller exploration companies lack the resources of a pool of expert exploration personnel. Downsizing, low oil prices, and scarcity of exploration funds have also affected larger companies, and will, with time, affect the end users of oil industry products in the US as reserves are depleted. The proposed expert exploration tool will benefit a diverse group in the US, leading to a more efficient use of scarce funds and lower product prices for consumers.
- Research Organization:
- New Mexico Institute of Mining and Technology (US)
- Sponsoring Organization:
- (US)
- DOE Contract Number:
- AC26-99BC15218
- OSTI ID:
- 824678
- Resource Relation:
- Other Information: PBD: 1 Jul 1999
- Country of Publication:
- United States
- Language:
- English
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RISK REDUCTION WITH A FUZZY EXPERT EXPLORATION TOOL
RISK REDUCTION WITH A FUZZY EXPERT EXPLORATION TOOL