Abstract

This study shows a new method for estimating oil reserves for wells and reserves as well as for forecasting wells and reservoirs production using correlation analysis and empirical mathematical modeling based on actual production data. The study focuses on the first stage of working history while almost of existing studies solved, such issues just having a long data history. The study resulted in that the reserves and production profiles can be estimated with high accuracy factor (up to 90%) using both empirical modeling and correlation analysis between well reserves and their initial or maximum production.