Comprehensive Outlook into Critical Roles of Pressure, Volume, and Temperature (PVT) and Phase Behavior on the Exploration and Development of Shale Oil

Shale oil has received increasing attention as an essential replacement for conventional oil resources. Shale oil recovery is a complex process controlled by interactions of many factors whose impact could be significantly different from conventional reservoirs. This study hence aims to fill the gaps in the literature by studying various aspects of the phase behavior of shale oil and their significance in different aspects of the recovery from oil shale. In the first part of this study, the standard practices, including experimental and theoretical methods for calculating the pressure, volume, temperature (PVT), and phase behavior of shale oil, is discussed in detail. Next, the effects of factors such as the composition of fluids, pore structure, and capillary forces on the phase behavior of hydrocarbon fluids are explained. The third part focuses on applying phase behavior for oil shale development. Moreover, the geological and geochemical processes that lead to the maturity of kerogen, the formation of shale oil, and the experimental methods by which those processes are currently studied are scrutinized. By studying the thermal and burial history of the hydrocarbon-generating strata and hydrocarbon-generating kinetics, the shale formation’s oil and gas phase distribution can be predicted. Consequently, the sweet spots for the recovery of light condensate oil can be more accurately determined. The application of enhanced oil recovery methods is an inevitable part of recovery from conventional and unconventional formations. Therefore, the last part of this study analyses the changes in the phase behavior of shale oil when an external component, i.e., CO2 or CH4, is injected into the reservoir. Reviewing the literature revealed that a more accurate prediction of hydrocarbon phase behavior can be made by combining different disciplines of science to achieve optimized plans for efficient shale oil development, making shale oil a more economically viable energy resource.