Low cost development strategy for oilfields in China under low oil prices

SONG Xinmin,QU Debin,ZOU Cunyou

Table 1 Development indexes of oilfields at different levels of water cut (updated by the end of 2019)[13].

Stage of water cut Water cut/% Producing reserve/108 t Recovery rate/% Annual oil output/104 t Composite water cut/% Degree of recovery/% Oil recovery velocity/% Low water cut fw<20 9.0 17.3 688 6.2 5.4 0.39 Medium water cut 20≤fw<60 78.8 17.2 4 699 49.1 7.8 0.60 High water cut (earlier stage) 60≤fw<80 78.5 21.2 4 383 71.8 14.0 0.56 High water cut (late stage) 80≤fw<90 65.8 25.7 4 181 85.4 20.5 0.64 Extra water cut fw≥90 111.3 41.1 5 163 95.6 36.9 0.46 High water cut total fw≥60 255.7 31.0 13 727 91.4 25.6 0.54