What is the difference between a reserve and oil in place?
Oil initially in place (OIIP) is the amount of crude oil first estimated to be in a reservoir. Oil initially in place differs from oil reserves, as OIIP refers to the total amount of oil that is potentially in a reservoir and not the amount of oil that can be recovered.
What is reserve estimation?
Reserves estimation is one of the most essential tasks in the petroleum industry. It is the process by which the economically recoverable hydrocarbons in a field, area, or region are evaluated quantitatively.
Why do we estimate reserves?
Dependent on quality of reservoir description. Reserves estimates often high because this method does not consider problems of reservoir heterogeneity. Highly dependent on quality of reservoir description and amount of production data available.
What is Stoiip stand for?
stock tank oil initially in place
STOIIP in the Oil and Gas Industry (stɔɪp) or stock tank oil initially in place. abbreviation. (Extractive engineering: Reservoir engineering) STOIIP is a method of estimating how much oil in a reservoir can be economically brought to the surface.
Which country has no oil?
For all intents and purposes, that amounts to no oil.
- Sweden. > GDP rank: 22nd largest.
- Switzerland. > GDP rank: 20th largest.
- Turkey. > GDP rank: 18th largest.
- Netherlands. > GDP rank: 16th largest.
- Spain. > GDP rank: 14th largest.
- South Korea. > GDP rank: 13th largest.
- Italy. > GDP rank: eighth largest.
- France.
What is Giip in oil and gas?
an estimated measure of the total amount of gas contained in a reservoir and, as such, a higher figure than Recoverable Gas. May also be termed Gas initially in place (GIIP) to describe the volume of gas that exists at initial discovery.
What is tonnage of ore?
The standard method of making these estimates is to find the cubic contents of triangular prisms, in the apexes of which the drill holes are placed, by multiplying the surface area by the average depth of the ore in the three drill holes and then multiplying the cubic contents by the specific gravity of the ore or rock …
What are the most common methods used to estimate reserves?
As production and pressure data from a field become available, decline analysis and material balance calculations, become the predominant methods of calculating reserves. These methods greatly reduce the uncertainty in reserves estimates; however, during early depletion, caution should be exercised in using them.
What is Sophih?
Hydrocar Ft (SOPHIH) – Hydrocarbon Feet is the summation of each sample interval multiplied by each Porosity/(Condition 1) times 1.0 – Water Sat/(Condition 2) passing all cutoff criteria. Requires porosity and water saturation curves. User Ft – Summation of the total number of feet where all cutoff criteria are meet.