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A mathematical model of an oil and gas field development process

Published online by Cambridge University Press:  08 March 2010

C. ATKINSON  and
R. ISANGULOV
C. ATKINSON
Affiliation:
Department of Mathematics, Imperial College of Science, London, UK
R. ISANGULOV
Affiliation:
Schlumberger Cambridge Research, Cambridge, UK email: rustam.isangulov@slb.com
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Abstract

A mathematical model of the development of an oil and gas field is presented. The field development process is treated as sequential in nature. Completion of a well and its production are considered to be random processes. The model uses results from renewal theory where the completion of a well and failure to produce economical amount of oil or gas are analogous to the failure of a component. In principle, the theory described can give the complete probability distribution associated with a field development. Explicit expressions are given for the expected value and variance of the number of completed wells.

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Type
Papers
Information
European Journal of Applied Mathematics , Volume 21 , Issue 3 , June 2010 , pp. 205 - 227
Copyright
Copyright © Cambridge University Press 2010

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References

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