Comparative Study of Oil Production Forecast by Decline Curve Analysis and Material Balance

Abstract

Comparative analysis of forecast of rate of production of oil from a reservoir using decline curve analysis and material balance was presented. The data for reservoir A located Southeast, Nigeria was obtained for the study. The analysis on the well using decline curve analysis showed that the rate of production from the well over the years followed an exponential method of decline. The rate of production of the well was predicted to be 158 stb/day in 2020. The second analysis on the well was performed using material balance with MBAL. The rate of production of the well was predicted to be 411.984 stb/day in 2020. It was also read from MBAL that the well will have a constant flow rate from the 20th year to the 31st year of the producing life of the well which is 2020. It is seen that the values of rates of production gotten from the prediction analyses of the well using the two methods of analysis differ. The rate in 2020 was predicted to be 158 stb/day using decline curve analysis and 411.984 stb/day using material balance