OPTIMIZED FIELD DEVELOPMENT STRATEGY UNDER UNCERTAINTY IN "EL CARITO" FIELD - NORTH OF MONAGAS, VENEZUELA

Market thrust, gas utilization guidelines and production increase expectations were the drivers for implementing a fundamental analysis of the reservoir history and forecasted performance. This analysis required the application of novel methodologies for uncertainty modeling and scenario optimization analyses. A multi-disciplinary team for El Carito field implemented a sustainable integrated asset modeling (MIAS) methodology for selecting the optimal field exploitation strategy. The objective was to assure optimal short-term field operating strategies in agreement with long-term reservoir management objectives with social and environmental responsibility. This paper describes the methodology used for developing a field operating strategy and for a long term field exploitation plan. The methodology is based on historic production profiles, drilling and workover success statistics, production enhancement practices. The methodology also includes world-class uncertainty modeling and scenario