Engineering and Economic Modelling of a Reservoir

These videos show how I used Monte Carlo simulation to determine the oil-in-place in a reservoir. Knowing how much hydrocarbons that are trapped underground is key to any field development plan. To reduce uncertainties and the margin of error in determining expected reserves, we need to determine the least likely, proven and most likely reserves by plotting probability plots P10, P50, and P90 respectively. Also, I will show some economical modelling for a leased Floating Production Storage and Offloading (FPSO) development plan.