Grant: Canada Research Chairs

Natural resources are associated with considerable uncertainty. One of the largest*sources 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 data*and procedures to manage this uncertainty.