Production and Economic Analysis of Enhanced Oil Recovery (EOR) by Water Flooding: A Case Study of Reservoir OD-48 in The Niger Delta.

Water flooding aids in the recovery of a large volume of oil that would have been dissipated in a depleted oil reservoir. In this paper, the production and economic potentials of Niger delta Reservoir OD-48 have been used to depict it. Reservoir OD-48 had oil originally in place as 9.7457 MMSTB. The oil remaining in the reservoir as at the period that the reservoir innate energy was not sufficient enough to produce oil was 3.51 MMSTB. The reservoir is currently considered as an abandoned reservoir with the left-over oil inside. From the current investigation, it is observed that if a second oil recovery activity is carried out on the reservoir, part of the left over oil will be retrieved. Following the conditions given, about 1.77 MMSTB of the 3.51 MMSTB of oil in Reservoir OD-48 would be produced during the breakthrough time of 760 days. Furthermore, acknowledging the economical facet of the project, Reservoir OD-48 is acceptable for investment. The NPV analysis carried out showed that the NPV of Reservoir OD-48 at an interest rate of 10% is $10.52 million. Considering that the NPV at a breakthrough time is greater than zero, the project is economically beneficial. [ABSTRACT FROM AUTHOR]