Integrated reservoir optimization

(54) Description Integrated reservoir optimization (57) Summary

A method for controlling a fluid or gas reservoir which assimilates various data having different collection time scales and spatial coverage scales for iteratively producing a reservoir development plan used to optimize a total reservoir performance is described. The method comprises: (a) generating an initial reservoir characterization, (b) from the initial reservoir characterization, generating an initial reservoir development plan, (c) when the reservoir development plan is generated, incrementally advancing and generating a utility program, (d) when the utility program is generated, monitor a reservoir performance by collecting high rate monitoring data from a first set of data measurements taken in the reservoir and using the high rate monitoring data to perform well regional and field reservoir evaluations; (e) further monitoring the performance of the reservoir by collecting low rate monitoring data from a second set of data measurements taken in the reservoir, (f) assimilating the high rate monitoring data and the low rate monitoring data, (g) from the high rate monitoring data and the low rate monitoring data, and determining when it is necessary to update. the initial reservoir development plan to produce a recently updated reservoir development plan; (h) when necessary, update the initial reservoir development plan to produce the newly updated reservoir development plan; and (i) when the newly updated reservoir development plan is produced, repeating the steps (c) even (h). A detailed description is given regarding the step (a) to generate the initial reservoir characterization and the step (b) to generate the initial reservoir characterization.