What Does STOIIP Stand For?

STOIIP stands for Stock Tank Oil Initially In Place

STOIIP, or Stock Tank Oil Initially In Place, refers to the total estimated volume of oil that exists in a reservoir before any production activities take place. It represents the amount of oil that can be recovered from a reservoir without considering the effects of pressure and production techniques. STOIIP is a critical parameter in reservoir engineering and plays a significant role in assessing the potential profitability and sustainability of oil extraction projects.