Optimization of waterflooding operations, whether reducing water cut (WC) or increasing ultimate oil recovery, has been a great challenge. With advancing technology, intelligent wells with controllable downhole chokes have provided the petroleum industry with efficient tools. Several techniques originating from different industries have been applied within the petroleum industry to address such challenges. This paper presents the advantages of using intelligent well valves compared to the base case of conventional wells with simultaneous use of a next-generation reservoir simulator and a user-friendly, robust optimization tool by maximizing net present value (NPV) and cumulative oil production.
Recovery has been enhanced using dynamic and smart control of interval control valves (ICVs) (Brouwer et al. 2002). ICVs provide more control and real-time action than that of inflow control devices (ICDs). Integrating a thorough understanding of reservoir physics expressed in analytical terms as key performance indicators, it is now feasible to use smart field technology proactively, rather than reactively. The additional recovery as a result of integrating key performance indicators with ICVs is presented through reservoir simulation. The difference between static and dynamic optimization methods used to date within the industry is also outlined. This paper additionally demonstrates the pros and cons of using intelligent well chokes for various optimization and uncertainty scenarios using a model of wells under rate and pressure-constraint simulations and parameters of uncertainty.