Integrated Economic Model for Evaluation and Optimization of Cyclic-Steam-Stimulation Projects

Frenette, C. T.; Saeedi, Majid; Henke, J. L.

doi:10.2118/169859-pa

Cited by 8 publications

(3 citation statements)

References 18 publications

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“…The developed model was validated using numerical simulations and has been recently used for evaluation and optimization of cyclic steam stimulation (CCS) projects . First, a base case was developed and simulated to check if the results from the simulator match with those of the developed analytical model.…”

Section: Discussionmentioning

confidence: 99%

Analytical modelling of cyclic steam stimulation (CSS) process with a horizontal well configuration

Saripalli

Salari²,

Saeedi

2017

Can J Chem Eng

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In this study, a new semi-analytical model has been developed to model heavy oil production using cyclic steam stimulation (CSS) and horizontal wells. In order to predict oil production, the governing equations of heat and fluid flow in cylindrical coordinate were solved. Average temperature in the formation during the soak period was calculated by solving the transient heat transfer equations. The heat transfer model was then coupled to a fluid inflow model to predict the fluid rates. The developed model is validated with the fine grid numerical simulation of the problem using a commercial numerical simulator. The robustness of the model was tested by comparing the model results with the results from the numerical simulator by changing various parameters such as: steam injection rates, reservoir permeability, relative permeability, oil viscosity, and reservoir thermal diffusivity. With some reasonable assumptions, it was seen that the results from the developed model are very close to the results obtained using the numerical simulator. This paper presents the model development in detail and outlines the steps involved in predicting the performance of a CSS process for a horizontal well configuration.

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Section: Discussionmentioning

confidence: 99%

Analytical modelling of cyclic steam stimulation (CSS) process with a horizontal well configuration

Saripalli

Salari²,

Saeedi

2017

Can J Chem Eng

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“…Net present value (NPV) is introduced as an economic indicator to evaluate the SAGD and bottom-up assisted pressure drive processes. NPV is defined below [39].…”

Section: Economic Evaluationmentioning

confidence: 99%

Numerical Investigation of a Novel Bottom-Up Assisted Pressure Drive Process in Oil Sands Reservoirs with Shale Barriers

et al. 2022

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Steam-assisted gravity drainage (SAGD) is widely applied to recover bitumen and heavy oil resources. Reservoir heterogeneity, especially the presence of shale barriers, continues to challenge the performance of SAGD. A novel enhanced oil recovery process, bottom-up assisted pressure drive, is proposed to improve the oil production in the reservoirs with shale barriers. In this work, numerical simulation is applied to investigate the feasibility of a bottom-up assisted pressure drive process. A reservoir model with typical oil sand reservoir properties is developed considering shale barriers. The performance of bottom-up assisted pressure drive and SAGD is compared under the same reservoir conditions, including steam chamber development, oil production rate, cumulative oil production, and the pressure difference between injector and production. The inherent mechanisms associated with the bottom-up assisted pressure drive are also well understood and confirmed. In the bottom-up assisted pressure drive, a flat steam chamber is developed from the bottom of the reservoir in the early stage of the process and grows upward with the injection of steam. The large volume of the steam chamber and the huge contact area between steam and bitumen contribute to a high oil production rate. The peak oil production rate in the bottom-up assisted pressure drive is approximately three times that in the SAGD process. The cumulative oil production in the bottom-up assisted pressure drive is 20% higher than that in the SAGD process. The effect of shale barriers on bottom-up assisted pressure drive is less, indicating one advantage of this novel process over SAGD in oil sands reservoirs with shale barriers. The pressure difference in the bottom-up assisted pressure drive is greater than that in the SAGD process. The pressure drive is another mechanism for improving oil production. The calculated net present value (NPV) in the bottom-up assisted pressure drive process is 27% higher than that in the SAGD process. This is mainly attributed to the high oil production rate in the early stage of the process and high cumulative oil production. The simulation study in this work provides technical support for the future field applications of this novel recovery process.

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“…Magne Emhjellen [7] examined the differences in the net present values (NPVs) of North Sea oil projects by using the weighted average cost of capital and a modern asset pricing (MAP) method that involves the separate discounting of project cash flow components. Frenette et al [10] presented a study to maximize the NPV of a greenfield cyclic steam stimulation (CSS) project by incorporating a horizontal CSS analytical model with a new surface model and specifically developed an economic evaluation model. Luo et al [11] conducted an economic evaluation (using an NPV model) to determine the overall economic viability of China's coal bed methane (CBM) resource and the factors that most impact the economic viability of CBM resources; the researchers then provided recommendations for policy-makers.…”

Section: Introductionmentioning

confidence: 99%

Integrated Evaluation Method-Based Technical and Economic Factors for International Oil Exploration Projects

et al. 2016

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Abstract:Optimizing international oil exploration projects is one of the main challenges for oil companies in obtaining investment benefits. This paper establishes an integrated evaluation model to maximize investment benefits within the constraints of technical and economic factors, including geological factors, resource quality, geographic conditions, the investment environment, and oil contracts. The paper also proposes a dynamic calculation method of indicators' weight associated with oil prices. The analysis describes the effects of contract terms and the investment environment on project value and quantifies the contractor income ratio for different types of contracts and the investment environment of the host country. Oil exploration projects in Africa are illustrated as examples in which the evaluation indicator Adjusted Concept Reserves (ACR) is calculated for each project. The results show that remaining recoverable reserves and contract terms exert tremendous influences on ACR, and remaining recoverable reserves is the essential factor. Simultaneously, changes in oil prices lead to various rates of change in the contractor income ratio, which is determined by different fiscal terms. This study is important in helping oil companies optimize international oil projects and design reasonable investment strategies.

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Integrated Economic Model for Evaluation and Optimization of Cyclic-Steam-Stimulation Projects

Cited by 8 publications

References 18 publications

Analytical modelling of cyclic steam stimulation (CSS) process with a horizontal well configuration

Analytical modelling of cyclic steam stimulation (CSS) process with a horizontal well configuration

Numerical Investigation of a Novel Bottom-Up Assisted Pressure Drive Process in Oil Sands Reservoirs with Shale Barriers

Integrated Evaluation Method-Based Technical and Economic Factors for International Oil Exploration Projects

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