The production history of K38 field is given in the table below, calculate the following: I. The decline model II. The model parameters III. Projected production rate until the end of the fifth year....

The production history of K38 field is given in the table below, calculate the following:

I. The decline model

II. The model parameters

III. Projected production rate until the end of the fifth year.

Briefly explain how the following causes decline in production:

(i) Changes in bottom hole pressure (BHP)

(ii) Gas-oil ratio (GOR)

(iii) Water-oil ratio (WOR)

Briefly explain how the following reservoir factors affect Decline Rate

(i) Pressure depletion

(ii) Number of producing wells

(iii) Drive mechanism

(iv) Reservoir characteristics

(v) Saturation changes

(vi) Relative permeability.