Reserve growth in oil fields of the North Sea

Abstract

The assessment of petroleum resources of the North Sea, as well as other areas of the world, requires a viable means to forecast the amount of growth of reserve estimates (reserve growth) for discovered fields and to predict the potential fully developed sizes of undiscovered fields. This study investigates the utility of North Sea oil field data to construct reserve-growth models. Oil fields of the North Sea provide an excellent dataset in which to examine the mechanisms, characteristics, rates and quantities of reserve growth because of the high level of capital investments, implementation of sophisticated technologies and careful data collection. Additionally, these field data are well reported and available publicly.