Offshore oilfield development planning under uncertainty and fiscal considerations

DOI10.1007/S11081-016-9331-4MaRDI QIDQ2358130zbMATH OpenOpenAlexFDO

Authors Yanyan Li

Publication date 21 June 2017

Published in Optimization and Engineering (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1007/s11081-016-9331-4

zbMATH Keywords

endogenous uncertaintiesLagrangian decompositionmultistage stochastic programmingoil and gas explorationproduction sharing agreementsringfencing

Mathematics Subject Classification ID

Case-oriented studies in operations research (90B90) Stochastic programming (90C15)

Review text

The paper presents a comprehensive review of the optimal development planning of offshore oil and gas fields. The major strategic/tactical decisions involved in the oilfield development planning phase are the following: a.) Selecting platforms b.) Deciding which fields to develop c.) Deciding which wells and how many are to be drilled d.) Deciding which fields are to be connected to which facility e.) Determining how much oil and gas to produce from each field. By including all the considerations described in an optimization model, it is difficult to solve to global optimality. The mixed-integer linear disjunctive multistage stochastic program with endogenous uncertainties for oilfield development problem using the alternative scenario-tree can be represented in the compact form. The deterministic as well as the multistage stochastic instances of the problem can be presented.

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Cites work

• A class of stochastic programs with decision dependent random elements
• A class of stochastic programs with decision dependent uncertainty
• Computational strategies for non-convex multistage MINLP models with decision-dependent uncertainty and~gradual uncertainty resolution
• Decomposition methods in stochastic programming
• Dual decomposition in stochastic integer programming

Cited in

(11)

• Drilling strategies for frontier areas
• Optimization methods for petroleum fields development and production systems: a review
• A unified formulation for generalized oilfield development optimization
• Multiperiod optimization model for oilfield production planning: bicriterion optimization and two-stage stochastic programming model
• Mature offshore oil field development: solving a real options problem using stochastic dual dynamic integer programming
• Oil field optimization under price uncertainty
• A solution framework for the integrated periodic supply vessel planning and port scheduling in oil and gas supply logistics
• Surface facility optimization for combined shale oil and gas development strategies
• A solution framework for the integrated periodic supply vessel planning and port scheduling in oil and gas supply logistics
• Single-step auto-tuning of external active damping control strategy for a drill-string speed-controlled electrical drive
• Optimal investment planning for production networks with fixed production profiles

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