An Approach to Stimulation Candidate Selection and Optimization
Well stimulation consists of several methods used for enhancing the natural producing ability of the reservoir when production rate declines. A de tailed literature review of some of the well published stimulation models are discussed in this research. This discussion was preceded with an introduction to formation damage concepts and an overview of well stimulation methods. Production decline curve analysis is combined with economic discounting concepts to develop a model that can be used for optimizing stimulation decisions. The model is presented in the form of a no n-linear programming problem subject to the constraints imposed by t he production facilities, reservoir productivity and the stimulation budget approved by management. Production data from f our stimulation candidate wells, offshore Niger Delta was used to validate the model developed by setting up a maximization problem. Solution to the problem was obtained using non-linear optimization software. The result obtained was verified using Wolfram Research’s Mathematica 7.0. The results s how that the optimization model c an be combined with stimulation treatment modules, developed from industry wide models, to quantify stimulation benefits. Candidate wells were t hen ranked based on stimulation cost, payout t me and stimulation benefit. Hence, the model is valid f or stimulation candidate s election; and is therefore recommended for use in optimizing stimulation decisions.