Estimating the reserves and in-places,
available literature concluded four methods present into the industry that are
volumetric, material balance, pressure decline and reservoir simulation. As
volumetric and pressure decline methods are used into early and last time
period of productions respectively therefore it is not of good assistance of
providing in-place estimations and different production scenarios.
It is because of volumetric methods just in corporates rock properties and not PVT
properties while production decline methods lead to overestimations into early
production times due to ignoring rock and fluid expansion effects. While
reservoir simulation is a programming tool comprises of physics and
thermodynamic principles in mathematical equations as a representative of
reservoir rock mass and energy balance. Read more>>>>>>>>>>>>>>>>
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