Abstract
When a gas or oil field development project consists of a large number of fields using common infrastructure, it becomes difficult to ensure that the development plan chosen for each field will max-imise the value of the total project. The large number of alternative schedules make it impractical to manually evaluate each plan explicitly.
A method based on mixed integer linear programming is presented for maximising the net present value of a gas project consisting of more than 20 fields and prospects over a 40 year time frame. The method estimates the optimum order, timing, installed capacity and offtake profile of each development. The constraints imposed by facilities and sales contracts are incorporated. Phase behaviour and reservoir depletion can also modelled. The paper will present the problem formulation, results of example cases and suggestions for further application and enhancements.
