Mphill/Phd in Uncertainty Quantification in Edinburgh United Kingdom | Heriot-Watt University

Oil reservoirs always involve some degree of uncertainty. From a commercial perspective, the key issue is whether this uncertainty affects reservoir development decisions, and if so, whether we can implement strategies that reduce its negative consequences.

The team creates and utilizes mathematical models to measure reservoir uncertainty. They employ sophisticated mathematical and statistical methods to integrate various data sources (such as production figures) and produce statistically reliable uncertainty assessments. These models then help determine optimal development approaches (including interventions like additional drilling) that boost projected profits while lowering financial risks.