Economic Evaluation Of Proven Reserves In K3 Fault Block Area Of ??K Oilfield

In the late years,our country's petroleum needs quickly increase,accompanying with economical fast development,thus the production of crude oil in China has far away met the needs of our country.The State,for the purpose of activating the petroleum industry,especially the activities in exploration and production fields,has permitted private enterprises to cooperate with state-run petroleum companies in exploration and production fields.Since the private enterprises join in this field,could activate the small,scattered and short investment mineral rights and rise the efficiency of exploiting oil-gas reserves,not only could stabilize the domestic petroleum products but also further expands the invest channels of private capital.The start point of the cooperation among State-run petroleum companies and private enterprises is to achieve the maximum benefits of the participants.And the premise of getting the goal is to exploit the proved reserves in the exploring period and try to obtain benefits from this action.Therefore,it becomes an inevitable procedure to start an economic evaluation to the proved reserves of oil-gas and petroleum.In China,for a long time the State-run petroleum companies have monopolized the petroleum exploring and exploiting business,the private enterprises have just joined these works,of course they are short of the management experiences of the reserved quantity.The significant point and purpose of this essay is expecting through this essay to provide experiences and cases those can be used for reference for the private enterprises in reserved evaluation procedures and methods.This essay begins firstly from economic evaluation theory on proved reserves,and summarizes on the basis of all the situation researches inside and outside countries,through documents survey and research then contrasts the different categories systems from domestic with abroad countries and does general description on the proved initial reserves and the main contents and methods of economic evaluation.Secondly on the basis of oilfield producing traits and the changing rules of production,we analyzed the elements would affect the economic evaluation on the geological conditions,geographical environments,oil quality,exploration and production technics,production decrease progressively,economic factors,management level,etc.We also chose the evaluation parameter of economic evaluation by proved reserves according to the regular documents authorized by the state and enterprise.Third,depended on the cash flow method and evaluation procedure,we here chose the proved reserves of K Oilfield K3 Fault Blocks as our case,beginning from development plan and production index predicting,and according to equivalent regular documents,connecting with the real operating situation investigation of K Oilfield,we calculated all the parameters of cash flowing in and flowing out.Thus,by these calculation results we have got the economic evaluation profit rate index on the net present value,internal rate of return,economic life,commercial recoverable reserves,etc.We also have analyzed sensitivity analysis and break-even analysis on the basis of the evaluation results.Therefore,we attained the most sensitive factors affecting evaluation results,the break-even volume and capacity utilization rate.Lastly,on the basis of substantial evidence analysis,especially aim to K3 Fault Blocks'small,low reserves abundance economic evaluation like that,we offered a referring case for the private enterprises,not just this we also gave some suggestions on reserves' managerial institute constructions.