-
Comparative Economics Of Petroleum Production Optimization Techniques
CHAPTER ONE -- [Total Page(s) 2]
Page 1 of 2
-
-
-
CHAPTER ONE:
1.0 INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Hydrocarbon
production in the petroleum industry are often constrained by reservoir
heterogeneity, deliverability and capacity of surface facilities. As
optimization algorithms and reservoir simulation techniques continue to
develop and computing power continues to increase, upstream oil and gas
facilities previously assumed not to be candidates for advanced control
or optimization have being given new considerations (Clay et al., 1998).
An
optimization technique is a procedure which is executed iteratively by
comparing various solutions till an optimum or a satisfactory solution
is found.
However, Wang (2003) addressed some problems associated
with optimizing the production rates, lift gas rates, and well
connections to flow lines subject to multiple flow rate and pressure
constraints to achieve certain short-term operational goals. This
problem is being faced in many mature fields and is an important element
to consider in planning the development of a new field.
Nonlinear
Optimization, also known as nonlinear programming has proven itself as a
useful technique to reduce costs and to support other objectives,
especially in the refinery industry whereas linear optimization is a
method applicable for the solution of problems in which the objective
function and the constraints appear as linear functions of the decision
variables. The constraint equations may be in the form of equalities or
inequalities. Furthermore, it had been used to determine the most
efficient way of achieving optimal outcome for example, to maximize
profit or to minimize cost in a given mathematical model. It can be
applied to numerous fields like business or economics situations, and
also in solving engineering problems. It is useful in modeling diverse
types of problems in planning, routing, scheduling, assignment and
design.
CHAPTER ONE -- [Total Page(s) 2]
Page 1 of 2
-
-
ABSRACT - [ Total Page(s): 1 ]ABSTRACTHydrocarbon production in the petroleum industry is often constrained by reservoir heterogeneity, deliverability and capacity of surface facilities, also optimization technique in the petroleum industry requires execution of several iterative runs by comparing various solutions until an optimum or satisfactory solution is found.In this study a comparative economic analysis to aid the optimization of petroleum production was done. Two key variables, tubing sizes and choke sizes were consi ... Continue reading---
