Potential and Risk Analysis of Offshore Fractured Light Reservoir

Abstract

The exploration and development of offshore oilfield facing unprecedented challenges include the decline in the quality of oil reserves, increase of invest and strict environmental protection policies. Usually, low permeability reservoir, heavy oil reservoir complex fault block and small reservoir located far from an existing facility are classified into marginal oilfield. More and more marginal oilfield is put on the schedule of development. In the view of economic, The internal rate of marginal oilfield return is lower than the benchmark rate of return of the industry, but higher than the cost discount rate of the industry. An integrated work flow is presented to improve the tap the potential and mitigate the risk of marginal oilfield involved in dependent development of small oilfields, unit exploitation of small oilfield group, simple platform, extended reach well and phased development. The LD oil field is taken as an example to state the strategy of marginal oilfield.