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RECOVERY FACTOR AND REPLACEMENT RATIO OF RESERVES, KEY PARAMETERS OF MONITORING THE NATURAL GAS PROCESS
Abstract
Hydrocarbon producing companies are looking at recovery factor evolution and replacement ratio of reserves as they are critical indicators for investments. Subsequently, these factors impact the business development process and the profitability. Maximizing the recovery factor means to have a detailed knowledge about the geological model and drive mechanism of the gas reservoir, especially when hydrocarbon production contains significant residual water which is driven up the well with the hydrocarbons. Replacement ratio of reserves is an important indicator for exploration & production companies that underlies business scenarios development and the actual results obviously influences exploration activity. It is essential to carry out regular appraisals throughout a field's life cycle to ensure that it operates in profitable conditions. Based on these considerations, the paper will highlight aspects related to the evaluation and interpretation of these important parameters for which specialists from petroleum industry focus their full efforts.
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