Patent ID: 7835893

Claim:
A computer-implemented method comprising: a computer system receiving user input selecting a plurality of simulation engines corresponding to a value chain; the computer system assembling in a memory a set of models that represent components of the value chain, wherein each of the models of said set of models includes one or more variables, where each of said one or more variables is defined on a corresponding range, wherein at least one of the models of said set of models is a high-resolution geocellular reservoir model; the computer system selecting values of the variables in their respective ranges to create instantiated models, wherein said selecting values of the variables in their respective ranges is performed according to an operational mode, wherein the operational mode is selected by a user from a set of operational modes including a Monte Carlo mode, a discrete combinations mode and a sensitivity analysis mode; the computer system assembling the instantiated models into a workflow; the computer system executing the simulation engines on the workflow to generate data output, wherein the simulation engines include one or more physics-based flow simulators for simulating reservoirs, wells and surface-pipeline hydraulics, wherein the simulation engines also include an economic computation engine; and the computer system storing the selected values of the variables and the data output from the one or more simulation engines to a memory; the computer system repeatedly performing a set of operations including said selecting, said assembling the instantiated models, said executing and said storing.