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2003 Course Petroleum Economics

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Total No. of Questions : 8] P1444 [Total No. of Pages : 7 [3764]-381 B.E. (Petroleum Engineering) PETROLEUM ECONOMICS (2003 Course) Time : 3 Hours] [Max. Marks : 100 Instructions to the candidates: 1) 2) 3) 4) Solve any two questions each for Section I and Section II. Answers to the questions of both the sections should be written in separate answer books. Use graph paper and semi log paper wherever necessary. Assume suitable data, if necessary. SECTION - I Q1) a) Following are the details of oil production from a well. Plot the information on suitable graph and extrapolate time required to decline to economic limit of 20 BOPD. Month Bbl/month Month Bbl/month Month Bbl/month 1 5400 16 1790 31 1030 2 5000 17 1700 32 1000 3 4800 18 1620 33 980 4 4100 19 1550 34 960 5 3900 20 1500 35 940 6 3600 21 1410 36 910 7 3300 22 1370 37 900 8 3100 23 1300 38 890 9 2900 24 1280 39 870 10 2650 25 1230 40 850 11 2400 26 1200 41 840 12 2350 27 1160 42 815 13 2160 28 1120 43 800 14 2050 29 1100 44 790 15 1910 30 1060 45 780 Assuming recovered reserves are 21% of OOIP, calculate OOIP. How much is still producible taking into consideration economic limit. [15] P.T.O.

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