ABSTRACT
The paper describes the procedure that was adopted to develop operating guidelines for the cyclic steam stimulation process in a water underlain oil sands reservoir. The study consisted of three parts: i) The risks associated with fracturing into water sands were quantified by conducting a stochastic simulation; ii) Numerical simulations were conducted to obtain correlations among the cumulative production volumes and six selected operating variables; iii) These correlations were subsequently embodied in the economic model to maximize the profits under different constraints.
The study concluded that rather than a unique value, a wide range of operating conditions maximized the project profitability. It recommended that a cautious approach in exploitation of these resources was warranted since the penalty for selecting non-optimal conditions was not high.
