Although reserve (or field) growth has proven to be an important factor contributing to new reserves in mature petroleum basins, it is still a poorly understood phenomenon. Limited studies show that the magnitude of reserve growth is controlled by several major factors, including (1) the reserve booking and reporting requirements in each country, (2) improvements in reservoir characterization and simulation, (3) application of enhanced oil recovery techniques, and (4) the discovery of new and extensions of known pools in discovered fields. Various combinations of these factors can affect the estimates of proven reserves in particular fields and may dictate repeated estimations of reserves during a field’s life. This study explores the reserve growth in the 42 largest oil fields in the...>>MORE

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Posted November 2006

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