Reservoir Management: Principles and Practices

Abstract

Summary Reservoir management is a method that seeks to maximize the value of a hydrocarbon asset. However, different companies and authors have differing approaches to reservoir management, and no generally accepted definition of this activity exists within the industry. This paper reviews some of the origins of reservoir management techniques and provides an overview of reservoir management principles. Reservoir management is directed toward maximizing the value of a hydrocarbon asset. The value of any reservoir is defined differently by different people at different times. To develop a reservoir optimally to maximize its value, the exact meaning of "value" must be clearly understood.