Advantages Of Volumetric Analysis

To estimate petroleum reserves, knowledge of the definition of reserves and criteria for reporting is needed. Worldwide, there are several definitions that are used for the term reserves. Depending on the definition used, estimates and reports of petroleum reserves can vary. In 1993, Desorcy et al suggested that the poor economic climate and lower quality of reservoirs that were being discovered at the time necessitated the implementation of a universal set of definitions that could be used throughout the industry. Ross (1997), although in agreement that a standard set of definitions was needed, suggested that establishing a classification system that would provide a framework for reserves was of a higher priority. In response to the growing

Another limitation to Volumetric Analysis is that it requires prior knowledge of the primary drive mechanism (Lee and Wattenbarger 1996)

What is the Decline Curve Method and its application? To use the Decline Curve Method, it is important to obtain accurate readings of reservoir pressure, temperature and the gas composition before the start of production (Dranchuck

(2004) noted that there continues to be recurring mistakes and errors when estimating reserves no matter the procedure used. From a geological standpoint, the most common errors associated with reserves estimation includes mapping surfaces, downdip limits, isopachous maps, and attic volumes (Harrell et al. 2004). With respect to engineering, errors are most commonly associated with production decline curves, operating costs, inappropriate selection of analogs, simulation derived estimates of proven reserves, failure to utilise early life performance data into volumetric estimates, and impact of drive mechanisms on gas material balance. (Harrell et al. 2004). Dietz and Usami (2009) emphasised that even if the exact quantity of oil or gas in place were known, determining how much of that hydrocarbon was recoverable would still be only an estimate. Dermirmen (2007) believes that the petroleum industry needs to improve methods to estimate reserves. He suggested that the two main challenges with estimating reserves are enhancing the reliability of estimates early in the life of the field and avoiding surprises during production. No matter the method used to estimate reserves, sensitivity testing should be utilised to determine the impact of uncertain