Heavy oil recovery is unlike conventional oil. Generally, heavy oil targets are known with depths identified and a general idea of the API gravity. So the key question is: Which target within a field do you tackle first?
The technical challenges in preliminary evaluation of heavy oil are often related to accurately understanding the reservoir geology, petrophysics, and geomechanics to be able to evaluate, model, and simulate various EOR methods to determine which would provide the best results, with minimal environmental impact. By understanding key reservoir characteristics it is possible to better predict how fluid will flow and the ultimate recovery of the reservoir. With this information, assets can then be prioritized and further evaluated using key technologies and pilot studies to ensure the best possible return on investment.
The primary objectives are to estimate hydrocarbon volume, assess recoverable reserves, and prioritize development based upon the value of the various resource classes in the asset.
To determine the value of the crude in the marketplace various economic and production variables and risks need to be factored into the analysis.
Project evaluation requires detailed engineering analysis to guarantee technical capability, and continued economic scrutiny to ensure ongoing success.
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