TABLE OF CONTENTS The goal of waterflood asset management is to maximize profits by optimizing recovery while minimizing capital investments and operating expenses. Success in waterflood asset management requires goal setting, deliberate planning, implementing, on-going monitoring, and evaluating the reservoir performance, keeping short term but more importantly long term goals on focus.
This chapter provides reservoir management definition and discusses reservoir management concepts and process, synergy and teamwork, and integration of various functions. Also, the waterflood screening and evaluation are covered.
The fundamentals of waterflood asset management, which have been described in detail in Reference 1, are summarized in this chapter. Based upon Reference 2, Appendix A presents a summary of reservoir management definition, integrated reservoir management concepts and process, synergy and team work, organization and team management, and integration of geoscience and engineering. It also discusses reasons for failure of reservoir management program.
The function of waterflood management is to provide facts, information, and knowledge necessary to control operations and obtain the maximum possible economic recovery.
Guidelines for waterflood asset management should include information on (1) reservoir characterization, (2) estimation of pay areas containing recoverable oil, (3) analysis of pattern performance, (4) data gathering, (5) well testing and reservoir pressure monitoring, and (6) well information database.
An integrated team approach involving geoscience and engineering professionals, field personnel, and management is essential for waterflood asset management. Successful operations require:
Developing an economically viable plan
Implementing the plan
Monitoring and evaluating performance
Revising plans and strategies
These items are discussed in detail in...
