Risk Analysis of Associated Gas Utilization in Power Plants

Abstract

This study presents the analysis of associated gas fueled gas turbine power plant with a view to harnessing associated gas. GASTURB performance simulation software was employed to model and simulate the design and off design performance of the various engines that made up the power plant investigated. Monte Carlo Simulation using Palisade’s @RISK software was employed to conduct the risk analysis of associated fueled gas turbine by incorporating different variables. A decline rate of -13% was applied over the 20-year period of power plant life, beginning from Year 2015. When the distribution curves for the clean and degraded conditions of DS25 engine set were compared, the plots show that the clean condition generates higher profit than the degraded condition. Also, when the clean condition for DS25 and LM6K engine sets were compared, the distribution curve plots show that the cluster of DS25 engine set generates a higher profit than the LM6K engine set.