A least squares approach for efficient and reliable short-term versus long-term optimization

DOI10.1007/S10596-017-9620-9MaRDI QIDQ1702382zbMATH OpenOpenAlexFDO

Authors Lasse Hjuler Christiansen, Andrea Capolei, John Bagterp Jørgensen

Publication date 28 February 2018

Published in Computational Geosciences (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1007/s10596-017-9620-9

zbMATH Keywords

multi-objective optimizationoil productionoptimal controlrisk managementshort-term versus long-term optimization

Mathematics Subject Classification ID

Existence theories for optimal control problems involving partial differential equations (49J20) Numerical methods based on nonlinear programming (49M37) Nonlinear programming (90C30) Financial applications of other theories (91G80)

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Cites work

• A multiobjective steepest descent method with applications to optimal well control
• CVaR norm and applications in optimization
• scientific article; zbMATH DE number 5060482 (Why is no real title available?)
• Nonlinear multiobjective optimization
• Nonlinear output constraints handling for production optimization of oil reservoirs
• Open-source MATLAB implementation of consistent discretisations on complex grids
• Recent progress on reservoir history matching: a review
• Reservoir Simulation

Cited in

(1)

• Comparative study of different risk measures for robust optimization of oil production under the market uncertainty: a regret-based insight

Describes a project that uses

Uses Software

• MRST
• REMSO

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