Hydrocarbon Reserves Estimation Method

Abstract

Hydrocarbon reserves estimation is important in the petroleum industry because it is the basis for which many decisions are made. There are several methods traditionally used to estimate reserves but in 1995 Mattar and McNeil introduced a new procedure called the Flowing Gas Material Balance (FGMB). The FGMB is considered a convenient method because it uses data that is already obtained and quantifies the gas in place without having to shut-in the well and interrupt production. This paper proposes to apply the Flowing Gas Material Balance method for reserves estimation to gas fields in Trinidad and Tobago and make a comparison with traditional methods of reserves estimation to confirm the efficiency of its application. To do this,

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. In response to this need, in March 1997, the Society of Petroleum Engineers (SPE) and the World Petroleum Congresses (WPC) approved a list of petroleum reserves definitions to improve the level of consistency in estimating and reporting on a worldwide basis. In 2005, the SPE’s Oil and Gas Reserves Committee (OGRC) published a comparison of the various definitions (Etherington, Zuccolo, and Spe 2005). Advancements in technology and expansions in the exploration and production sector made it apparent that updates to the 1997 guidelines were needed (Denney 2007). As a result, the Petroleum Reserves and Resources Classification, Definitions and Guidelines were updated in 2007 and this document serves as the current standard to define petroleum reserves

However, knowledge and techniques gained from Petroleum Geoscience, Reservoir Engineering and Production Engineering will be the most utilised. If the proposed study proves to be successful, it can introduce a new technique that local oil companies can utilise to determine hydrocarbon reserve estimates. Reserves estimation can be considered to be one of the corner stones on which oil and gas exploration and production is based upon. By implementing the use of the Flowing Gas Material Balance method locally, gas reserves can be predicted without having to shut-in the well. This is important because when wells are shut-in hydrocarbons cannot be produced so the application of the FGMB would allow for more productive time in the drilling