The quality of oil and gas reservoirs, initial production and the recovery factor are important factors affecting the revenue of development projects. Understanding geological potential and risk is of great significance for judging the uncertainty of a project, avoiding risks, and improving project returns. Reservoir depth, sand thickness, connectivity, permeability, porosity, oil viscosity, etc. determine the quality of reservoirs. In addition, well pattern, well type (horizontal or vertical wells), well spacing, reservoir pressure, artificial lifting method, injection fluid and sand wettability play important roles in the final recovery factor. This research takes an oil field in the Bohaibay as an example, and analyzes how to make full use of seismic data, geological data, and drill stem test (DST)data to understand geological uncertainties, to tap underground potentials, and to increase the project revenue, thereby promoting project implementation.

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