RATE SENSITIVITY AND THE OPTIMAL CHOICE OF PRODUCTION CAPACITY OF PETROLEUM RESERVOIRS

This paper addresses aspects of rate sensitivity for oil and gas reservoirs and the optimal choice of production capacity and depletion rate. For a given oil and gas reservoir the recoverable reserves depend on the depletion rate. This rate sensitivity is outlined and discussed with special reference to the aspects of maximum efficient rate (MER). It is of major importance to ascertain as early as possible whether a reservoir is rate sensitive or not. This is information of economic significance, which influences the optimal choice of production capacity.