Patent ID: 7172020
Filing Date: 2007-02-06
Classification: E21B

Abstract:
1. A method for optimizing oil production rate and overall oil recovery from a formation having an oil well, comprising following steps: a) collecting formation and oil well input data; b) calculating Inflow Performance Relationship curve from said formation and oil well input data to describe the projected relationship of a bottomhole formation pressure and an oil production rate; c) identifying a higher than zero desired value of said bottomhole pressure corresponding to a maximum oil production rate from said calculated Inflow Performance Relationship curve under current well conditions; d) adjusting the bottomhole pressure to the vicinity of said desired bottomhole pressure corresponding to current well conditions; e) starting oil production flow; f) monitoring oil well parameters to be within the collected formation and oil well input data values; g) if deviation of the well parameters from the collected formation input data is detected, repeating steps (a) through (c) to recalculate the desired value of said bottomhole pressure; and h) adjusting the bottomhole pressure to said newly calculated desired value.