Quanitifying the Value of a Future Well Test with Reservior and Measurement Uncertainty

We present a consistent and functional methodology for conducting value-of-information (VoI) analysis on proposed well tests in the<br>presence of multiple critical uncertainties associated with the reservoir and the measurement/interpretation. Such uncertainties can<br>impact asset economics acutely when they influence recoverable hydrocarbons. A key feature of this analysis is that the value of the<br>measurement is determined before the measurement is made. Our demonstration uses an example of a marginal offshore asset where<br>severe compartmentalization is possible. In this example, the VoI is a critical deciding factor because it is not obvious a priori that this<br>value will justify the cost of the test in this marginal asset.