A 10-month R&D project titled “Investigation of Applicability of Machine Learning to Reservoir Characterization, Performance Forecasting and Field Development Planning” has been initiated. The project’s principal investigator is Assoc. Prof. Dr. Emre Artun and the project is funded by Turkish Petroleum. The project aims to improve the reservoir characterization of an oil field that has been operated by Turkish Petroleum using available field data, and to forecast the performance of new well locations only by using real data without the need for higher-fidelity models. The ultimate goal is to design field-development scenarios by identifying “sweet-spots” in the reservoir.