... development Reservoir Management water rate proactive control icv Artificial Intelligence investment representative model Decision analysis WMR Schiozer intelligent well reactive control evaluation water production application Indicator society of petroleum engineers Introduction...

... an operator to avoid situations where NPV continues to increase in time, but the late-time cash flows are negligible (in terms of an appropriate financial metric) relative to the capital invested in the project. The optimization is formulated as a nested procedure in which economic project life is optimized...

... and investments are not significant, leading to the conclusion that, in such cases, the optimization procedure can be applied only to the base model. The use of a unique production strategy in the whole process can reduce significantly the computational effort. It is also shown that a more accurate result can...