Advanced method cuts time and costs for EOR modeling ///
A sustained high oil price is leading major oil and gas companies to reassess their mature assets, which traditionally would have been sold to smaller operators, when the decline in production reduced the operating margins for the asset. These smaller operators are simply able to exploit their lower operating costs to make production profitable from reserves that may still have as much as 70% of the original oil-in-place (OIP) present. However, the greater return resulting from oil at around $100/bbl means that big producers can consider using advanced enhanced oil recovery (EOR) processes potentially capable of unlocking an additional 15%-20% of the initial OIP.
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