This paper presents a method for the fast evaluation of fracture-stimulated condensate reservoir economics. For the calculation of production decline in such reservoirs, an efficient numerical model with a three-phase transient analysis of pressure distribution was built and validated using the predictions from reservoir solvers and field data. This model solves for gas-, oil-, and water-flow parameters, accounting for the gas-oil phase transition, and has been realized in a numerical code and compared with predictions from commercial software and available field data, such as production-decline curves.

The developed numerical model has been implemented in commercial software and used for the sensitivity analysis of reservoir productivity regarding changes of fracture size and spacing, as well as reservoir permeability in the fractured condensate reservoirs, with an account for multiphase reservoir flows and reservoir properties. A side-by-side comparison of predictions from two commercial reservoir simulators has shown that that this model accurately calculates transientpressure fields near the fractures and the productiondecline curve.

The objective of the economic analysis and fracture optimization stage is reduced to finding the target function minimum in an N-dimensional parametric space using various constrained minimization techniques, including a Quasi-Monte Carlo analysis and the Active Set Method.

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