This paper presents the results of a full field simulation study for a rich gas condensate reservoir with complex fluid behavior. Unique to this paper is a comparison between Modified Black-Oil (MBO) and compositional simulation in a full field model with water influx. Geological, petrophysical, fluid properties, rock-fluid properties, and well data were used to build two full field simulation models (14-component Equation-of-State, compositional model and 3-component MBO model). More than 14 months of daily gas, oil, and water production and tubing pressure data from 4 wells were matched using the MBO model. The model was then used to forecast production and identify new development locations. Comparison runs between the MBO and the fully compositional models were made. It was found that the two models agreed for the entire simulation above and below the dew point and with water influx from the aquifer. The MBO runs were at least 5 times faster than the most efficient compositional run.

The use of the MBO approach allowed a rapid history match of the field performance and a timely completion of the simulation study. Contrary to the common belief that a compositional simulation approach is needed for modeling near-critical reservoirs, this study shows that a MBO approach can be used instead of a fully compositional approach for modeling depletion and water influx processes in near-critical reservoirs. This approach may result in significant time saving in full field simulation.

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