This paper presents a generalized equation of state (EOS) that represents several widely used cubic EOS's. The generalized form is obtained by manipulation of Martin's EOS 1 and is applied in this smdy. A component pseudoization procedure that preserves densities and viscosities of the pseudocomponents and the original mixture as functions of pressure and temperature is described. This procedure is appiied with material balance requirements in generation of two-component, blackoil properties for gas condensates. Agreement between resulting black-oil and fully compositional simulations of gas condensate reservoir depletion is demonstrated for a very rich, near-critical condensate. Also, agreement between EOS compositional results and laboratory expansion data is shown. The fully compositional simulation necessary for belowdewpoint cycling is performed for the neaT-critical condensate with a wide range of component pseudoizations. Results show the well-known necessity of splitting the C 7+ fraction and indicate a minimal set of about six total components necessary for acceptable accuracy. L,t;::oduction Gas condensate reservoirs are simulated frequently with fully compositional models. This paper presents a pseudoization procedure that reduces the multicomponent condensate fluid to a pseudo two-component mixture of surface gas and oil. T4is aliows the use of a simpier, less expensive, modified black-oil model that accounts for both gas dissolved in oil and oil vapor in the gas. A major question in the use of the black-oil model is whether the two-component description can represent adequately the compositional phenomena active during the depletion or the cycling of gas condensate reservoirs. This question is especially pertinent to near-critical or very rich gas condensates. This paper, therefore, includes a comparison of black-oil and compositional simulations for depletion and below-dewpoint cycling of a naturally occurring ng, rich condensate only 15°F [8.3 0c] above its critical temperature. Like a number Qf unreported cases for leaner condensates, the two models give very similar results for depletion. In addition, the two models give identical results for cycling above dewpoint provided that certaln conditions are satisfied. However, the black-oil model is not applicable to cycling below dewpoint, so results of the compositional model are compared for different multi-component "Now with Scientific Software-Intercomp.