RE-EVALUATION OF ORIGINAL OIL IN PLACE AND PROPOSING A FIELD DEVELOPMENT PLAN USING MBAL SOFTWARE: CASE STUDY ZONE 12 HMD FIELD

Abstract

The exploitation of oil reservoirs is considered an important investment project that could involve a significant economic risk. If the project's revenue is not properly forecast, taking into account expenditures and the initial capital investment, substantial losses may occur; hence, the importance of reserve estimation. Reservoir estimation is the responsibility of a reservoir engineer. Reserves are estimated using various methods to align predictions with the actual reservoir model and achieve an optimum estimate. Owing to today's technological advancements, these methods have become increasingly accurate. In this humble effort, we estimate the reserves of Zone 12 HMD using the Material Balance Method at 122 million Sm³ and compare the result with that obtained from the Volumetric Method (114 million Sm³). We also propose a development plan based on water injection to improve the recovery factor and provide pressure support