Arctic offshore development can be characterized relative high capital expenditures for wells drilling, field infrastructure, and often small duration of drilling season. These features restrict ability of oil fields exploration in this region and there is a requirement of comprehensive uncertainty analysis before exploration program is started.

In this work a solution for optimal well spacing calculation for statistically distributed parameters of reservoir is presented. Exponential model of well productivity decline taking into account well lift maximum rate is used for analytical calculation. Using these solutions, it is possible to calculate reserves, NPV and minimal rental reserves distribution. Compared distribution of reserves and minimal rental reserves it is possible to estimate risk of exploration program and prioritize projects.

Keywords:
well performance, inflow performance, production monitoring, Upstream Oil & Gas, Reservoir Surveillance, formula, movable oil reserve, exploration program, on-site facility, Well Productivity
Subjects:
Well & Reservoir Surveillance and Monitoring, Reservoir Fluid Dynamics, Formation Evaluation & Management, Flow in porous media, Well performance, inflow performance
Copyright 2015, Society of Petroleum Engineers
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