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Reservoir simulation models are created by reservoir engineers and use finite difference methods to simulate the flow of fluids within the reservoir, over its production lifetime. Sometimes a single "shared earth model" is used for both purposes. More commonly, a geological model is constructed at a relatively high (fine) resolution.
The reservoir model should be distinguished from its design scheme, which takes into account only the geometric shape of the reservoir. For example, a reservoir model may be a stratified heterogeneous reservoir. In the design scheme, the reservoir with the same model of it can be represented as a reservoir of a circular shape, a rectilinear ...
Reservoir simulation is an area of reservoir engineering in which computer models are used to predict the flow of fluids (typically, oil, water, and gas) through porous media. The amount of oil & gas recoverable from a conventional reservoir is assessed by accurately characterising the static recoverable volumes and history matching that to ...
Reservoir engineering is a branch of petroleum engineering that applies scientific principles to the fluid flow through a porous medium during the development and production of oil and gas reservoirs so as to obtain a high economic recovery. The working tools of the reservoir engineer are subsurface geology, applied mathematics, and the basic ...
Stocks and flows also have natural meanings in many contexts outside of economics, business and related fields. The concepts apply to many conserved quantities such as energy, and to materials such as in stoichiometry, water reservoir management, and greenhouse gases and other durable pollutants that accumulate in the environment or in organisms.
Integrated asset modelling (IAM) is the generic term used in the oil industry for computer modelling of both the subsurface and the surface elements of a field development. . Historically the reservoir has always been modelled separately from the surface network and the facilit
An economic model is a theoretical construct representing economic processes by a set of variables and a set of logical and/or quantitative relationships between them. The economic model is a simplified, often mathematical, framework designed to illustrate complex processes. Frequently, economic models posit structural parameters. [1]
The black-oil equations are a set of partial differential equations that describe fluid flow in a petroleum reservoir, constituting the mathematical framework for a black-oil reservoir simulator. [1] The term black-oil refers to the fluid model, in which water is modeled explicitly together with two hydrocarbon components, one (pseudo) oil ...