Determination of Optimum Well Number in One of the Iranian Oil Reservoirs Using Monte Carlo and Genetic Algorithm Models

In reservoir management, the key goal is to reach the maximum economic profit. This can be achieved by the evaluation of economic parameters. One of the main factors in the economic evaluation and capital expenditure of any filed development is the number of wells necessary to reach the optimum hydrocarbon production from the reservoir. In this paper, an attempt has been made to select the optimum number of wells in one of the Iran southwest carbonate reservoirs. Uncertainty analysis has been carried out using MonteCarlo and Genetic Algorithm techniques. Both horizontal and vertical wells were analyzed, and the number of scenarios were performed to select the optimum number of wells. The best scenarios from an economic point of view were selected for field development.