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Economical Evaluation of an Oil Field Reservoir

In this study, economical evaluation of an oil field reservoir was performed using software. The software used in this study consists of different sub-programs to determine recoverable oil, recovery factor, initial and final productions, production rates, and original oil and gas in place for different types of reservoirs. Recovery efficiency was found to be 29% for water drive and 4.78% for solution gas drive reservoirs. In decline curve analysis, initial and final production rates were obtained as 40 and 20 bbl/day, respectively. The reserve is estimated as 60,000 bbls with a reserve life of 5.78 years for the field studied.