Abstract
Agent-based models (ABMs) provide a fast alternative to traditional partial differential equation (PDE)-based oil reservoir models by applying localized inexpensive simulations, rather than solving a partial differential equation at every time-step. However, while there have been theoretical and numerical results obtained with ABMs in social science applications, the accuracy of ABMs has not been analyzed in the context of oil reservoir modeling. This paper quantifies the accuracy of a specific ABM by comparing its results to a single-phase flow reservoir. We show that the proposed ABM matches results given by the PDE-based model with less than 5.4% difference. Results are obtained for reservoirs with single and double producers, with varying permeability and with impermeable barriers.