AbstractReserves are the basis of oilfield development, and determination of reserves accurately has great significance for future adjustment of oil fields development. Due to distinct characteristics of offshore oilfield development, it is difficult to obtain dynamic reserves accurately using conventional methods. To overcome the limitations of existing methods, in this paper, a new model for calculating dynamic reserves is established through theoretical derivation with innovative introduction of relative permeability ratio and the quadratic power function of water saturation based on Buckley-Leveret function and frontal movement equation. The result shows that this approach is simple to use and with good applicability, and only needs typical oil field dynamic data. The results of the study facilitates better recalculation of oil field reserves and implementation of oilfield adjustment well. More importantly, it has laid out a new methodology for increasing oil production and exploration in Bohai oil field and provided theoretical foundation for subsequent oilfields’ efficient development.
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