Providing timely and sound technical "advice" to the management is one of the primary jobs of a Reservoir Engineer. "Advice" is like a product that Reservoir Engineers generate to assist management take effective decisions. These decisions in turn effects the financial health of the company.
With the limited time and resources, it is very important to decide the correct tool to be used to generate the correct and timely "advice". In order to justify a bigger financial commitment by the investors, a more rigorous and robust technique is required. However, more the robust and rigorous technique is, more data / information is demanded by the technique. A simpler technique can be used to obtain results in shorter time using less amount of data; however, the results may not be as reliable as a more complex method would yield.
There is a time element to the equation. With longer investment of man-days, a better results might be obtained. However, capability of the technique; quality and quantity of data play a limiting role to the robustness of the result.
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| Figure-1 |
Figure-1 attempts to typical time duration required to carry out different RE studies and a relative complexity of the result that can be achieved from these techniques. It compares (a) Decline Curve Analysis, (b) Material Balance, (c) Streamline Simulation, and (d) Finite Difference Simulation.
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