What is the economic value of core analysis techniques in Oil and Gas?

Core analysis, or any other data, should undergo a VOI (Value of Information) exercise, which is seldom done, but is illuminating. Take the world WITHOUT the data (no cost, large uncertainty) and calculate its value - choose a risk-weighted economic metric (e.g., NPV). Then, take the world WITH the data (comes at a cost, reduces uncertainty) and calculate its risk-weighted economic metric (NPV). Now, compare the two. The difference is the value of that information; an actual number, which equips you to answer the question, 'Is it worth acquiring this info?'. You should end up with a statement like this: 'This data is worth an extra $X million in NPV'.

Core analysis techniques in the oil and gas industry provide vital insights into reservoir properties, guiding exploration, production, and management decisions. Porosity analysis assesses storage capacity, while permeability analysis optimizes fluid flow for enhanced recovery. Saturation analysis aids reserve estimation, and petrophysical analysis identifies bypassed pay zones. Rock mechanics analysis ensures operational safety. Employing these techniques maximizes hydrocarbon recovery, reduces risks, and enhances economic performance by improving reservoir characterization and production efficiency, contributing significantly to the industry's value chain.

Core analysis techniques in the oil and gas industry provide crucial insights into reservoir properties, guiding decision-making processes in exploration, production, and reservoir management. These techniques optimize reservoir characterization, inform well planning, enhance reservoir modeling, facilitate EOR planning, mitigate drilling risks, and reduce costs, ultimately maximizing asset value and operational efficiency.

Core analysis provides crucial insights for decision-making in oil and gas exploration, production, and reservoir management. Despite challenges like high extraction and analysis costs, potential sample damage, and time-consuming processes, it remains economically valuable. Its critical role in optimizing reservoir performance and guiding key decisions underscores its significance in the industry.

One of the most important experiments in the field of petroleum engineering is to study the behavior of rock-fluid interaction, which is performed on the cores analysis, Then the results are extrapolated to the pilot and field scale. To develop a reservoir, it is essential to understand its past, present, and future behavior. Simulation, management, and development of the reservoir are interrelated processes that depend on the quality and quantity of the reservoir data. Therefore, the more thoroughly the reservoir rock is examined and the more reliable and diverse outputs are obtained, the better the simulation, development, management, and ultimately, the production and profitability of the reservoir will be formed.