Calculation of oil and gas reserves using the monte carlo method

The calculation of oil and gas reserves is carried out with the purpose, to determine the quantity suitable for industrial use which is the basis for the projection of future oil and gas field developments. In today’s world, existing methods for calculating oil and gas reserves are divided into two groups namely: deterministic (in-depth analysis of all that is available at the moment of calculating geological, geophysical and industrial informations with the purpose of determining or identifing and studing the necessary calculating parameters; a set of arithmetic operations with known formulas); probabilistic (each parameter’s formula of estimating reserves is considered as a random variable, and reserves - as a function of these random parameters,presented with interval estimates (as bar graphs); calculating the probability that the “true” reserves fall within preset values). With the intension of comparing the magnitude of oil reserves calculated,the volume method is computed by means of statistical simulation modeling we use the Monte Carlo method to solve for the calculation of oil deposites found in earlyminilite (oligocene) Oriv-Ulych fields, which is associated with industrial reserves mentioned in category C1.