DefinePK

Abstract

This paper explores the economic impact of novel petrophysical decision-making in developing oil rim reservoirs, emphasizing the integration of advanced technologies such as machine learning, real-time data acquisition, and dynamic reservoir simulations. The study examines how these innovations can enhance oil recovery rates, optimize operational efficiency, and reduce financial risks, thus providing a theoretical foundation for improving economic outcomes in this challenging field. While the potential benefits are significant, the paper also highlights the technical and economic barriers to implementation, including data integration challenges, high costs, and the uncertainty of return on investment. Moreover, the study identifies opportunities for growth, such as enhanced oil recovery and operational optimization, while considering the broader implications for the oil and gas industry, particularly in the context of evolving regulatory frameworks and increasing environmental concerns. The paper concludes by offering recommendations for future research and industry practices, focusing on developing more sophisticated decision-making tools, overcoming technical barriers, and adopting proactive risk management strategies. By embracing these innovations, the oil and gas industry can enhance its resilience, maximize resource recovery, and secure long-term profitability in an increasingly competitive and volatile market.
Keywords: Petrophysical Decision-Making, Oil Rim Reservoirs, Economic Impact, Advanced Technologies, Oil Recovery Optimization.