Title: Discussions on the rational relations between oil reserves and production
Abstract: The level of recoverable reserves replacement has been the key factor restricting the oil production increase in China for years. The relation between the increases of reserves and production and the relation between the calibrated recoverable reserves of new oilfields and improved recoverable reserves of maturing oilfields are analyzed quantitatively from the viewpoint of oil development. It is demonstrated that oil production is mainly affected by the level of reserves replacement ratio provided that the reserve-production ratio reaches its rational lower value, while the reasonable ratio of increased reserves of new oilfields to that of maturing oilfields depends on the difference between the initial calibrated recovery and ultimate recovery of oilfields.
Publication Year: 2004
Publication Date: 2004-01-01
Language: en
Type: article
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Cited By Count: 1
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