... tolerance partition simulation jacobian producer granularity topology algorithm united states government cgnet mismatch graph iteration history matching spe reservoir simulation conference transmissibility npv Introduction Production optimization and other problems from field...

... stabilized at 12 vs. 30 iterations), and a lower computational cost (150-250 vs. 1,300 runs to achieve the same NPV) over the reference methods. Similar performance improvement was also observed in another application to a North Sea type reservoir. This demonstrated the general applicability of the proposed...

.... This assessment requires a common decision making simulation frame work that can integrate the input from geo-modelers, geophysicist and reservoir engineers. This work presents an example of how a Close Loop Reservoir Management (CLRM) simplification can be used as a framework for simulating NPV changes due...

... economical predictions. A workflow, combining time-event optimization with Robust Optimization has been developed and applied to the optimization of the NPV of the ASP process under uncertain time varying oil prices. Several forecasts of the future oil price from different energy organizations and financial...

... of our procedure to waterflooding optimization where the optimization variables are the well controls and the cost function is the life-cycle net present value (NPV) of production. The optimization algorithm used for solving the constrained optimization problem is sequential quadratic programming (SQP...

...Oil field development optimization problem The field development optimization considers maximizing the net present value (NPV) over the presumed life of the reservoir to find the optimal number of wells, their corresponding drilling order, types, locations and control settings. In this paper...

... ) ⋅ r w i ] } ⋅ Δ t k ( 1 + b ) t k τ t )   , The objective function is the usual expression for (simple) Net Present Value (NPV) as used in life-cycle optimization studies. It is defined as Objective function In this paper we have used...

..., maintained the same oil recovery factor and required less investment. Artificial Intelligence gas lift gas injection Upstream Oil & Gas diameter boundary condition optimization problem case 0 lift rate NPV evaluation gaspar production strategy production system integration artificial...

... calculation is used in an expected net present value (NPV) maximization. A single model was fist used to contrast the individual optimization of injection rates and the injection cycle lengths with the combined optimization of rates and WAG cycle lengths in order to determine the best parameters to consider...

... Abstract A new methodology for the joint optimization of economic project life and time-varying well controls is introduced. The procedure enables the maximization of net present value (NPV) subject to satisfaction of a specified modified internal rate of return. Use of this framework allows...

... In this work, we use a commercial reservoir simulator to simulate the dynamic performance of the flooding process. The NPV function is computed using the output of a reservoir simulation run given a N x dimensional variable vector x and a N m dimensional vectorial parameters...

...) case studies. In the first study, the objective is to simultaneously maximize the net present value (NPV) and minimize the cumulative steam oil ratio (CSOR). In the second one, we present the merits of the proposed workflow using a numerical tuning case study in which the goal is to find models...

... Adaptive Direct Search algorithm. The objective here is to maximize expected (over multiple realizations) net present value (NPV) of the overall project. History matching is accomplished using an adjoint-gradient-based randomized maximum likelihood (RML) procedure. Because the CLFD history matching...

... to estimate the optimal well controls which maximize life-cycle net-present-value (NPV). By optimizing the well controls, we implicitly optimize the WAG ratio (volume of water injected divided by the volume of gas injected). We apply the optimization methodology to synthetic, channelized-reservoir examples...

.... The majority of previous studies has focused on single-objective optimization, with a long-term objective, e.g. ultimate recovery or life-cycle net present value (NPV), applied to a single geological model, mainly to test the efficiency of various optimization algorithms. Moreover, most of these studies have...

... implementations that can be applied for water flooding optimization under geological uncertainty where we wish to develop well controls that satisfy two objectives: the first is to maximize the expectation of life-cycle net-present-value (NPV) (commonly referred to as robust optimization) and the second is either...

... augmented lagrange function vector NBI method NPV realization Joint optimization of expectation and risk under field constraints Introduction In production optimization, due to the fact that the real reservoir geology is never know, it is preferable to consider multiple realizations. Jansen...

... Abstract Model-based optimization of oil production has a significant scope to increase ultimate recovery or financial life-cycle performance. The Net Present Value (NPV) objective in such an optimization framework, because of its nature, focuses on the long-term gains while the short-term...

... Abstract In determining the optimal well controls by maximizing net-present-value (NPV) for the remaining life of a reservoir, one typically defines the length of the control steps a priori. Moreover, these control steps are often the same for all wells. We provide a scale splitting/merging...

... the algorithm's application to the production optimization step of closed-loop reservoir management where the objective function is the net present value (NPV) of production from a given reservoir. The new algorithm does not require a gradient calculation with an adjoint method but does use an approximate...