What does GRM mean in MANAGEMENT

Key Functions of GRM

• Data Acquisition and Analysis: Gathering and interpreting geological, geophysical, and engineering data to understand the reservoir's structure, properties, and fluid characteristics.
• Reservoir Modeling: Developing mathematical models to simulate reservoir behavior and predict future performance under different production scenarios.
• Production Optimization: Maximizing gas production by optimizing well placement, production rates, and artificial lift methods.
• Reservoir Surveillance: Monitoring reservoir performance, fluid movement, and reservoir pressure to detect changes and adjust production strategies accordingly.
• Reservoir Management Plan: Developing and implementing a comprehensive plan that outlines the strategies and actions necessary to manage the reservoir effectively.

Benefits of GRM

• Increased Gas Recovery: Optimize production methods to maximize the amount of gas extracted from the reservoir.
• Enhanced Reservoir Performance: Monitor and adjust production parameters to maintain reservoir pressure, reduce water production, and minimize reservoir damage.
• Cost Optimization: Optimize well spacing, production rates, and drilling activities to minimize operating costs.
• Risk Mitigation: Identify and mitigate potential risks associated with reservoir exploitation, such as reservoir compaction, fluid breakthrough, and surface subsidence.
• Improved Environmental Stewardship: Implement best practices to minimize environmental impact, such as minimizing flaring and optimizing water usage.