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The materials balance method for an oil or gas field uses an equation that relates the volume of oil, water and gas that has been produced from a reservoir and the change in reservoir pressure to calculate the remaining oil & gas. It assumes that, as fluids from the reservoir are produced, there will be a change in the reservoir pressure that ...
A petroleum reservoir or oil and gas reservoir is a subsurface accumulation of hydrocarbons ... it is possible to estimate the volume of an oil-bearing reservoir.
Sources sometimes differ on the volume of proven oil reserves. The differences sometimes result from different classes of oil included, and sometimes result from different definitions of proven. (The data below does not seem to include shale oil and other unconventional sources of oil such as tar sands.
This list of oil fields includes some major oil fields of the past and present. Countries by proven oil reserves 2017. The list is incomplete; there are more than 25,000 oil and gas fields of all sizes in the world. [1] However, 94 % of known oil is concentrated in fewer than 1,500 giant and major fields. [2]
In 1970, local peak production was 10,044 million bbl (1,597 million m 3) per day in November 1970. [8] Total production of crude oil from 1970 through 2006 was 102 billion barrels (16.2 × 10 ^ 9 m 3), or roughly five and a half times the proved reserves over the same timeframe when taking into account the decreasing proved reserves.
Oil in place must not be confused with oil reserves, that are the technically and economically recoverable portion of oil volume in the reservoir. Current recovery factors for oil fields around the world typically range between 10 and 60 percent; some are over 80 percent. The wide variance is due largely to the diversity of fluid and reservoir ...
The total volume of all water held behind a dam at the maximum level possible. Initial volume Design volume The possible volume within the reservoir after it first opens. Many rivers are high in silt that over time deposits behind a dam reducing capacity. Active volume Live volume The total capacity minus the dead pool volume. This is the ...
The reservoir is a porous and permeable lithological unit or set of units that holds the hydrocarbon reserves. Analysis of reservoirs at the simplest level requires an assessment of their porosity (to calculate the volume of in situ hydrocarbons) and their permeability (to calculate how easily hydrocarbons will flow out of them). [2]