Grant: Canada Research Chairs

Natural resources are associated with considerable uncertainty. One of the largestsources of uncertainty is due to the spatial variability in rock properties. The proposed research program aims to develop mathematical and computational methods to quantify and manage uncertainty. This uncertainty must be managed in the context of (1) dwindling conventional petroleum reserves, (2) development of the huge unconventional deposits in northern Alberta, the natural gas reserves in the far north, and (3) interest in cleaner sources of energy. The proposed Chair renewal is aimed at the quantification of uncertainty that results from sparse dataand procedures to manage this uncertainty.