Additional production estimation with new wells
Input(s)
\(\mathrm{K}_{\mathrm{i}}\): Number of Fields Discovered up to date in Selected Field Class (dimensionless)
\(\mathrm{K}_{\mathrm{i} \_ \text {add }}\): Number of Fields estimated to be discovered with additional number of Exploration Wells (dimensionless)
\(\mathrm{N}_{\mathrm{p} \_ \text {avg }}\): Average Annual Production of a Field in the Region (dimensionless)
Output(s)
\(N_{p \_a d d}\): Additional Annual Production of Fields estimated to be explored (dimensionless)
Formula(s)
\[
\mathrm{N}_{\mathrm{p} \_ \text {add }}=\left(\mathrm{K}_{\mathrm{i}}-\mathrm{K}_{\mathrm{i} \_ \text {add }}\right)\left(\mathrm{N}_{\mathrm{p} \_ \text {avg }}\right)
\]
Note: All Formulas need to be applied in each Field Class separately.
Reference(s)
Serpen, U., Petroleum Economics, Course Notes, ITU Petroleum and Natural Gas Engineering, Istanbul, Turkey, (2008) Page: 80.