Perpustakaan Digital ITB

Oil and gas are energy sources that are easily available and provide high energy. However, the availability of oil and gas is not equivalent to energy needs because the reservoir is getting older and there are no discoveries of new reservoir. To increase production, low resistivity low quality reservoir zones are considered to have the potential to increase oil and gas availability. This study examines the techno-economic side of developing low resistivity low quality reservoir zones using well stimulation in the form of hydraulic fracture. In this study, reservoir development simulations were carried out using CMG software to find out the amount of production generated from the development scenarios. The fracture design has been given, a single unified fracture. There are three development scenarios that were simulated over ten years (2021 to 2030). Case 1 is reservoir that produces naturally, Case 2 is reservoir that implemented hydraulic fracturing at the beginning of the production year, and Case 3 is reservoir that produces naturally in the first five years and in the sixth year (2006) hydraulic fracture implemented to the reservoir. The best case with the highest production is then evaluated with the Cost Recovery scheme and the Gross Split scheme so that the best NPV is obtained. Based on reservoir simulation, oil production in Case 1, Case 2, and Case 3 is 331.91, 378.56, 360.87 thousand barrels, respectively. The implementation of hydraulic fracture to the reservoir resulted in a significant increase in oil and gas production. With the increase in production, there will be an increase in NPV. Case 2 gives the highest oil production so that it gives a higher NPV than the other cases. The results of the economic analysis of Case 2 show that the contractors NPV generated in the Gross Split scheme is higher than the Cost Recovery scheme, 4.51 million USD and 1.16 million USD, respectively. The government NPV generated through the Gross Split scheme is lower than the Cost Recovery scheme, 9.22 million USD and 10.24 million USD, respectively. Based on the results of this study, Case 2 is the best development scenario by applying hydraulic fracture at the beginning of the production year and carrying out an economic evaluation using the Gross Split scheme. The novelty of this study is to compare various cases of hydraulic fracture implementation at a certain time and analyzes its economic value using Cost Recovery and Gross Split schemes. From the results of this study, the implementation of hydraulic fracture can increase production in low resistivity low quality reservoirs.