Geological uncertainty
Geological uncertainty is often a critical risk factor as it defines the outcome and return on a field development over the life of well.
Extensive efforts and resource is invested to understand and describe the geology and capture/quantify the uncertainties.
As the field matures, increased data captured, improves the models, impacting development decisions. However, the economic value of the project remains dependent on the ability to mitigate the risks associated with remaining uncertainties.