OIL AND GAS RESERVE ESTIMATION USING VISUAL BASIC 11.0
Journal Title: Academic Research International - Year 2016, Vol 7, Issue 5
Abstract
An improper estimation of an oil and gas reservoir will have considerable inimical effect on the economical out-put of that reservoir considering the level of uncertainty that will emanate. Reducing the level of uncertainty in oil and gas reserve estimation before development has been a major point of consideration amongst oil companies, as a favorable expectancy in estimation result will to a large extent guarantee return on investment. To be assured of the economic potential of any given reservoir or field before development, volumetric or analogy estimation method is mostly carried-out to estimate the level of original oil in place (OOIP) and original gas in place (OGIP). This paper presents a new and computerized approach or version of volumetric estimation method, and it is done by imputing data for all parameters, components or factors required for calculation in volumetric estimation method into the Microsoft visual basic platform. This method is triggered by the desire to reduce time spent in oil and gas reserve estimation after seismic stage and before development, in order to speed-up production for better economic value of the product vis-a-vis cost of production. Therefore, Microsoft visual basic is used to design computation models, and data as results are generated to substantiate the reservoir estimation of oil and gas. More so, this method is less time consuming compared to time spent in numerical reservoir estimation. The complete process of this method is presented in this paper. The result can be comfortably used to make oil reserve estimation of all types of reservoir and field with different geophysical and geological properties.
Authors and Affiliations
Emmanuel Chinedu Nnyeruka, Victor Onensi Abbey
Keywords
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