Feasibility study of developing Gullfaks South field
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Gullfaks South is the main satellite field in the main Gullfaks Field. So far the satellite field has been developed from Gullfaks platform C. Today, Gullfaks South field is in depletion phase and primary recovery slowly is finish. The objective of this thesis is to exam the economical possibility to develop Gullfaks South. The geological formation is heterogeneous. To increase the recovery it is necessary to drill new wells. Based on the existing Eclipse reservoir simulation model, proposed new production, injection well locations to optimize the forecast production profile. Based on the simulated recovery in combination with estimated cost of new wells, I made a calculation of the net present value and other economic indicators for further development of Gullfaks South. I evaluated the most sensitivity parameter related to this development.