Abstract
The present paper deliberates a comparison study between volumetric and material balance methods used in the estimation of reserves in well F-12 of Volve field. Based on PVT and petrophysical data, the estimation of reserves is done by using volumetric method with Excel software. The material balance method is applied on the PVT data, tank data and production history data to provide estimation by using MBAL software. The volumetric method gives estimated oil in place of about 67,639,727.94 Sm3 and so the reserve is equal to 36,525,453.09 S m3. While the stock tank original oil in place (STOIP) generated from MBAL software is 19,607,700 Sm3 and so the reserve is estimated to 10,584,378 Sm3. The volumetric method is less accurate than material balance method because it is based on the assumption that the reservoir is static and homogeneous. This is the reason why volumetric method provides an overestimated reserve. So, the material balance method seems to be the best method because of the amount and the type of production data used.
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