DBPapers
DOI: 10.5593/sgem2017/14/S06.105

RECOVERY FACTOR AND REPLACEMENT RATIO OF RESERVES, KEY PARAMETERS OF MONITORING THE NATURAL GAS PROCESS

D. Stefanescu, I. Foidas
Monday 11 September 2017 by Libadmin2017

References: 17th International Multidisciplinary Scientific GeoConference SGEM 2017, www.sgem.org, SGEM2017 Conference Proceedings, ISBN 978-619-7408-00-3 / ISSN 1314-2704, 29 June - 5 July, 2017, Vol. 17, Issue 14, 843-850 pp, DOI: 10.5593/sgem2017/14/S06.105

ABSTRACT

Hydrocarbon producing companies are looking at recovery factor evolution and replacement ratio of reserves as they are critical indicators for investments. Subsequently, these factors impact the business development process and the profitability. Maximizing the recovery factor means to have a detailed knowledge about the geological model and drive mechanism of the gas reservoir, especially when hydrocarbon production contains significant residual water which is driven up the well with the hydrocarbons. Replacement ratio of reserves is an important indicator for exploration & production companies that underlies business scenarios development and the actual results obviously influences exploration activity. It is essential to carry out regular appraisals throughout a field’s life cycle to ensure that it operates in profitable conditions. Based on these considerations, the paper will highlight aspects related to the evaluation and interpretation of these important parameters for which specialists from petroleum industry focus their full efforts.

Keywords: resources, reserves, recovery factor, replacement ratio.