During periods of low oil prices, profitability of field developments drops drastically. To help with this difficulty, a cost-effective method has been proposed to boost the hydrocarbon recovery by optimizing well locations through the Simulated Opportunity Index (SOI). SOI is an intelligent method to identify zones with high potential for production which is empirically calculated from basic rock and fluid properties, and from reservoir pressure as its energy capacity. In order to obtain the best results, the original SOI formula (Molina et al., 2009) was extended to both oil and gas fields. Based on this modified SOI formula, a software program has been developed to locate the best well locations considering multilayer, existing wells, and fault existences.
This paper describes how the SOI software helps as a simple, fast, and accurate way to obtain the higher hydrocarbon production than that of trial-error method and previous studies in two different fields located in offshore Indonesia. On one hand, the proposed method could save money by minimizing the required number of wells. On the other hand, it could maximize profit by maximizing recovery.