The Monte Carlo simulation was applied to reserve calculations to honor the uncertainties of reserve parameters.As geologic parameters themselves are random in nature

they are treated as stochastic variables that randomly choose values in real number domain with different probabilities.Taking reserve calculation of the CLFS project as an example

suitable valuing methods were selected for parameters with uncertainties in accordance with the SPEC standards.These parameters include oil-bearing areas

porosity

effective thickness

saturation and crude volume coefficient.The value ranges of each parameter were determined and their values at P10

P50 and P90 were calculated.The final calculation result is just a range of reserves

covering the full value ranges from conservative to optimistic.By doing so

we could master the overall situation concerning the reserve of the oilfield so as to provide more reliable bases for exploration and development strategies and reduce decision-making risks.