Optimizing oil recovery and reducing water production in smart wells

摘要

A method and non-transitory program carrier device tangibly carrying computer executable instructions for adjusting downhole valve settings in order to optimize oil recovery and reduce water production from a well. The method and non-transitory program carrier device are particularly advantageous in wells with intelligent completions that are often referred to as smart wells. In the oil and gas industry, an Internal Control Valve (ICV) is an important tool for both reactive and proactive approaches to adjust ICV settings to improve oil recovery.