Risk Analysis Application to the Petroleum Field Development , A Southern Iraqi Oil Field - case study.

Abstract

The development process of oil and gas fields is one of the most important technical and engineering challenges facing the oil companies operating in all areas of the oil sector during the production life of these fields, because of the variables and complexities associated with the development embodied in the analysis process of decision-making rational choices in the development stage of producing oil fields. In this research approved the application of risk analysis as a decision-making in the implementation of the development project of the oilfield under study, which is located in southern Iraq, as well as determine the effect of inaccuracy of some variables in this analysis, which was quantified in two parts, the first of which was related to risk analysis in the event of current situation of the field in terms of productivity, while the second one related to the proposed development method, where it underwent the cases mentioned in this part of the risk analysis, except in cases where production runs up to the water cut in producing wells up to 80% were excluded from the analysis. Results of this analysis for both parts were compared with the amount of accumulated production that were calculated previously for the same cases mentioned in previously Part II, which provided under the developmental study of the mentioned field in 2007 for one of the produced formation in the primary reservoir of the field. The comparison results reflect the importance and eligibility implications of the used tools as promising and supported in their decision-making in right way of engineering studies submitted for the development of oil fields. As well as the results indicate the importance of adopting risk analysis is a good guide to evaluate the methodology and scalability performance of oil fields and the completion of operations associated with them.