Quantifying Incremental Oil Production and Economics of Using Intelligent Completion as a Tool for Reservoir Management

Description

– Quantifying Incremental Oil Production and Economics of Using Intelligent Completion as a Tool for Reservoir Management –

Download Quantifying Incremental Oil Production and Economics of Using Intelligent Completion as a Tool for Reservoir Management. Students who are writing their projects can get this material to aid their research work.

Abstract

Huge amount of hydrocarbon in place is left unrecovered. Integrated reservoir management, in addition to the use of new technologies improves hydrocarbon recovery. Intelligent completion is one of the technologies which enhance reservoir management thereby improving the hydrocarbon recovery.

This work presents a review of intelligent completion technology, guidelines to evaluate the decision whether or not to implement intelligent completion and evaluates field cases of intelligent completion installation.

The case studies were derived from four fields where intelligent completions have been implemented. Comparison of intelligent completion with non-intelligent completion was based on ease of data acquisition for reservoir management, incremental oil production and profitability criteria.

The yard sticks used for economic analysis include the net present value, discounted payout period, profitability index and growth rate of return. The results from the study show that reliable intelligent completion improves reservoir management by enabling data acquisition and well monitoring.

Employing intelligent well completions in reservoir management can lead to 21% to 38% increase in oil recovery and 17% to 41% increase in NPV compared to non-intelligent completion. It must be pointed out that intelligent system failure may render intelligent completion projects economically unattractive.

The results of this study can be used to evaluate the feasibility of executing an intelligent completion project; especially in fields were intelligent completion is yet to be implemented as a tool for reservoir management.

Introduction

1.1 Background of the Study

Reserves are the main asset of the exploration and production (E&P) industry. Every E&P firm aims at maximizing its total profit in the long run, hence the industry aims at enhancing ultimate recovery of a field, cost efficiently.

However, most of the hydrocarbons in place are not recovered; about 35% of hydrocarbons in place are recovered leaving behind the remaining 65%. The need to improve recovery from the huge amount of remaining hydrocarbons in place around the world requires sound reservoir management practices.

Integrated reservoir management is a continuous process and the key to successful operation of the reservoir throughout its entire life. It requires the use of both multi-disciplines and technological resources for maximizing profit.

A comprehensive reservoir management plan involves depletion and development strategies, data acquisition and analyses, geological and numerical model studies, production and reserves forecasts, knowledge of facilities requirement and economic optimization.

These can facilitate better reservoir management which will enhance economic recovery of hydrocarbons (Satter et al., 1994). Intelligent well completion forms part of the overall vision of reservoir management optimization.

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