Petroleum Reservoir Simulation Assignment Help

Introduction –
As I am working for an oil company ‘TGO Oil ltd’ with assetsin Trinidad. An onshore, medium
sized, gas condensate field provisionally named ‘Gangau’ has just been discovered. As the
reservoir engineer, I have examined the potential development of the field based on the limited
data available. The analysis done here with the use of capital budgeting methods for the purpose
of investment decisions. The analysis includes both the approaches : traditional and new
introduced approaches which is considered as real time analysis. The research shows that how
capital budgeting can be used while analyzing the projects having high uncertainty and having
huge investments as the case is oil & gas production and its sales while maintain the oil & gas
reserves (Malenko, 2019).
Analysis of the Oil & gas condensate field development

The revenue generated by the project of oil & gas and the fixed & variable cost of production
it incurs in the project is analyzed by applying the two different approaches which is traditional
& real
time valuation on the oil & gas Condensate field type in the Gangau Discovery Well to
determine the feasibility of the oil & gas project. The clastic Reservoir which appears relatively
homogeneous, along with the quality of the reservoir in the eastern part of the field is pretty
unclear. The analysis is done considering all the points mentioned as follows- the data given
related to Gas condensate scoping model to development options for the oil and gas field, along
with considering the range of recycling replacement ratios which is 0.4 in the given case. And
the number of wells and well (and associated facility) timing to obtain the maximum net project
value (NPV) for the planned development in the field. The recycling alternative should be
considered as it will be profitable in the field of oil & gas. And the gas recoverable reserves of
gas reserve is 243.59 bscf, RF =35.6%, and the liquid reserves is 36,585,947 stb, RF= 32.1 %
(Motylska-Kuzma, 2017).

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