Quick Review

Abstract

The notable increase in petroleum demand, together with a decline in discovery rates, has highlighted the desire for efficient production of existing oil wells worldwide. Mainly, the productivity of the existing large oil fields makes us consider the principles of managing reservoirs to make the most of extraction. At the same time, many different uncertainties in the course of the developing oil field, including geological, operational, and economic uncertainties, have a detrimental impact on the reservoir's effective production, which is why dealing with uncertainty is crucial for maximizing output. There is a broad variety of studies on managing oil reservoirs under uncertainty information in the literature. In this study a short review of earlier works has been done on optimization strategies and management of uncertainty in reservoir production.