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Comparative Economics Of Petroleum Production Optimization Techniques
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Carroll (1990) applied a multivariate optimization techniques
to a field produced by a single well. The model used in his research
includes a single oil well field. However, only the separator model was
compositional, and no engineering parameters were allowed to vary with
time. He used two types of optimization routines that is, Gradient
methods and Polytope methods. However, Ravindran (1992) applying the
same technique but allowed for gas-lift and engineering parameters to
vary with time. Again, Fujii in 1993 improved the technique by allowing a
network of wells connected at the surface, he also studied the utility
of genetic algorithms for petroleum engineering optimization.
Regarding
some paper view, the application of optimization techniques to solve
problems in the upstream sector of petroleum Exploration and Production
has been surprisingly limited not taking into account the enormous
important of the E&P activities to the hydrocarbon enterprise and to
the global energy systems and the economy as a whole.
Over time,
development in the petroleum industry resulted in optimization methods
improving in its ability to handle various problems. In optimization of a
design, the design objective could be to minimize the cost of
production or to maximize the efficiency of production.
In this work methodology used include Statistical and Sensitivity Methods:
o Nodal Analysis
o @Risk Software (Monte Carlo simulation)
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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---
