To perform better interpretation inmaking the right and effective decisions, valuable information is needed. This researchdefines and evaluates measurement models to measure information value. Themodels will be based on theory and practical experiences showing the value ofinformation and the foundation. Information can be improved and can providebetter support in decision making. The models should be concise, clear andbroadly applicable, though they should be adapted to energy companies to getthe most out of them. The value of information will be consideredin terms of a possible gain in value with further information on Shaly Sandreservoirs interpretation, as well as a loss in value associated with theabsence of information. It is importantthat an operating company collect as much information about the reservoir asthe economics of the project allows.
Inaddition to seismic and wireline logs, core data, geological data, regionaldata, and information from nearby wells can be extremely valuable in makingeconomic decisions. Obtaining this datarequires trained professionals from both the operating company and servicecompanies, working together to get the best possible interpretation.Over the years, operatingcompanies have found that service companies can offer many of the processesonce performed in house at a lower cost and at a highly quality.
For example, a wireline expert from Servicecompany may have experience with a wide range of reservoirs, as opposed to anoperating company engineer who deals only with a limited number ofreservoirs. Of course, the operatingcompany engineer will have much more detailed information about his ownreservoirs, so it is necessary that the two work closely together.One ofthe most controversial problems in formation evaluation is the shale effect inreservoir rocks. An accurate determination of formation porosity and fluidsaturation in Shaly sand is subjected to many uncertain parameters, all areinduced by the existence of shale in pay formation. Shales are one of the moreimportant common constituents of rocks in log analysis. Aside from theireffects on porosity and permeability, this importance stems from theirelectrical properties, which have a great influence on the determination offluid saturations. Through the years, log interpretation has beenperformed in a sequential process of logical operation.
The log analystdetermines one parameter and then another until the problem is logicallyacceptable.