The production trend of Okoso oil field is presented in the figure below. The estimated economic limit of this field is 190 stb/month. Calculate • Effective (D’) and nominal (D) decline rates •...

The production trend of Okoso oil field is presented in the figure below. The estimated economic limit of this field is 190 stb/month.

Calculate

• Effective (D’) and nominal (D) decline rates

• Remaining reserves (NP) from 1 January 2003 to the field’s economic limit

• Time (t) to produce to economic limit

• Ultimate oil recovery (Nul) to economic limit

• Production rate (qo5) at end of year 2008