Compact formulations for efficient early-phase field development optimization of multi-reservoir fields

Methods for Early-Phase Planning of Offshore Fields Considering Environmental Performance

“…One simple example is that a higher oil production rate means higher revenue, but it also means higher expenses due to the required equipment, more CO 2 emissions due to the increased energy consumption, and a larger footprint due to the larger processing facilities required. Full details of the optimization formulation can be found in Appendix A and the work of Guowen [32].…”

“…where i is the discount rate, t is a given year, and T is the total number of years. Expressions of DRILLEX, OPEX, and CAPEX were taken from the work of Alkindira [29] and Lei [32]. NPV is discounted to its present value using the discount rate i, which is a decimal number.…”

Price Stress Testing in Offshore Oil Field Development Planning

“…The production potential curves are extracted from an integrated coupled model of the production system built in commercial software. Production potential curves enable production profiles to be quickly computed repeatedly without requiring time-consuming runs from commercial simulators [44,45]. Additionally, the use of production potential curves allows efficient white-box numerical optimization to be implemented instead of the black-box implementations which typically used when dealing with commercial software.…”

“…(10), (11), and (13) were transformed into MILP problems by utilizing PWL functions to approximate their nonlinearities. The implementation details are given in Lei et al [44].…”

A New Energy-Aware Method for Gas Lift Allocation in IoT-Based Industries Using a Chemical Reaction-Based Optimization Algorithm

“…The volatility in output expenses and consumer demand the improvement of product portfolio management circumstances [12]. Oil and gas field planning and development is a complicated process that includes many disciplines and a vast amount of choices, which sometimes overshadows field performance and project economics [13]. A small improvement in quality and productivity can lead to energy savings, waste reduction, time-lost reduction and efficiency increment, which can be achieved using the IoT, IIoT and wireless networks [14][15][16][17].…”