Reliable estimation of critical parameters such as hydrocarbon pore volume, water saturation, and recovery factor are essential for accurate reserve assessment. The inherent uncertainties associated with these parameters encompass a reasonable range of estimated recoverable volumes for single accumulations or projects. Incorporating this uncertainty range allows for a comprehensive understanding of potential outcomes and associated risks. In this study, we focus on the oil field located in the northern part of Iraq and employ a Monte Carlo-based petrophysical uncertainty modeling approach. This method systematically considers various sources of error and utilizes effective interpretation techniques. Leveraging the current state of available data, our approach generates a wide range of theoretically possible results. Furthermore, establishing a set of probabilities to indicate the likelihood of each possible outcome is of utmost importance. By implementing this approach, we aim to enhance reserve assessments by accounting for petro-physical uncertainties, thereby providing decision-makers with valuable insights into the range of possible outcomes and associated risks. This study contributes to a more robust understanding of recoverable reserves and supports informed decision-making in the oil and gas industry.