STOCHASTIC Simulation has launched its free ResAssure Lite reservoir simulation service.

ResAssure Lite is used for static reservoir model initialisation to estimate Oil Initially in Place and provides better estimates of reservoir uncertainties than traditional methodologies.

ResAssure, which is touted by the company as the world’s fastest reservoir simulator, is available in three editions, include ResAssure Lite, which users can sign up to download and use for free.

“ResAssure, Stochastic Simulation’s unique, cloud-based reservoir simulator, is breaking new ground in terms of speed and availability,” Tap Oil senior reservoir engineer Denis Bouclin said.

“ResAssure Lite provides an extremely fast, accurate Oil Initially in Place value in a single, easy to use package.”

WA Department of Mines and Petroleum resources general manager Mike Middleton said Stochastic’s ResAssure reservoir simulation service presents an excellent quantification of risks associated with oil and gas developments which are of real value for the state and the industry.

Stochastic said ResAssure Lite users are able to access Oil Initially in Place (OIIP) functions, while ResAssure Express users can also run Standard Reservoir Simulations.

Stochastic Simulation chief technology officer Andrew Wadsley said ResAssure Lite filled a significant gap in the market.

“We have had substantial interest in ResAssure and this initial release of ResAssure Lite enables users to experience the benefits of this “on demand” cloud based service with minimum effort and at no cost,” he said.

Unlike other products used by reservoir engineers, geologists and geophysicists, ResAssure Lite combines the benefits offered by statistical packages with those that provide volumetric calculations, allowing users to undertake uncertainty analysis for in-place reserves calculations using a probabilistic approach.

ResAssure Lite runs multiple realisations to calculate the in-place volumes with the same accuracy of any other reservoir simulator, but far quicker.

“ResAssure Lite saves users significant time as it eliminates the need to run a base-case in a reservoir simulator and then export the results to a separate uncertainty tool,” Dr Wadsley said.