Value of Information (VOI) from continuous monitoring and digitization of the wellbore using chemical tracers

Digitalization is gaining increasing attention and focus among oil industry companies where the aim is to digitize all elements of the oil production system. Elements of the well, facilities, compressors, pipelines and terminals should ideally become digitized, and relevant data values fed into an integrated asset model to enable exception-based asset surveillance and to support critical operational decisions. This allows a proactive reservoir management strategy by reducing subsurface uncertainty. The objectives of digitalization are to reduce system downtime, increase operational reliability and optimize hydrocarbon production, thereby reducing overall costs (Opex and Capex) and increasing revenue from optimized production. Permanently installed tracer systems represent a wireless and risk-free type of technology to provide zonal resolution and hence digitizing of the wellbore. The technology enables trend analysis to identify changes in oil/water inflow in each zone of the well to support operational decision-making and to optimize production at different time scales as will be explained in greater detail in this article.