scholarly journals Partially Separated Metamodels With Evolution Strategies for Well-Placement Optimization

SPE Journal ◽  
2013 ◽  
Vol 18 (06) ◽  
pp. 1003-1011 ◽  
Author(s):  
Z.. Bouzarkouna ◽  
D.Y.. Y. Ding ◽  
A.. Auger
Keyword(s):  
Objective Function ◽  
Net Present Value ◽  
Oil And Gas ◽  
Computational Cost ◽  
Computational Effort ◽  
Local Regression ◽  
Gas Field ◽  
Field Development ◽  
Reservoir Simulations ◽  
Partial Separability

Summary The net present value (NPV) of a project can be significantly increased by finding the optimal location of non-conventional wells. This optimization problem is nowadays one of the most challenging problems in oil-and gas-field development. Suitable methods to tackle this problem include stochastic optimization algorithms, which are particularly robust and able to deal with complex reservoir geology with high heterogeneities. However, these methods require in general a considerable computational effort in terms of number of reservoir simulations, which are CPU-time-demanding. This paper presents the use of the CMA-ES (covariance matrix adaptation—evolution strategy) optimizer, recognized as one of the most powerful derivative free optimizers, to optimize well locations and trajectories. A local-regression-based metamodel is incorporated into the optimization process in order to reduce the computational cost. The objective function (e.g., the NPV) can usually be split into local components, referring to each of the wells that moreover depends in general on a smaller number of principal parameters, and thus can be modeled as a partially separable function. In this paper, we propose to exploit the partial separability of the objective function into CMA-ES coupled with metamodels by building partially separated metamodels. Thus, different metamodels are built for each well or set of wells, which results in a more accurate modeling. An example is presented. Results show that taking advantage of the partial separability of the objective function leads to a significant decrease in the number of reservoir simulations needed to find the "optimal" well configuration, given a restricted budget of reservoir simulations. The proposed approach is practical and promising to deal with the placement of a large number of wells.

Economic Risk Analysis of Offshore Projects

1992 ◽  
Vol 114 (3) ◽  
pp. 165-174 ◽  
Author(s):  
E. M. Bitner-Gregersen ◽  
J. Lereim ◽  
I. Monnier ◽  
R. Skjong
Keyword(s):  
Net Present Value ◽  
Oil And Gas ◽  
Development Project ◽  
Oil Field ◽  
Economic Risk ◽  
Gas Field ◽  
Cost Overruns ◽  
Field Development ◽  
Project Assessment ◽  
Oil Field Development

A quantitative analysis of economic risk associated with large investments in offshore oil and gas field development and production is presented. The analysis is intended as a supporting tool in decision-making faced with uncertainty and risk, to study the effect of alternative decisions in an easy manner. The descriptors for the project assessment, such as the Internal Rate of Return (IRR) and Net Present Value (NPV) are applied. The study demonstrates first the impacts of early pilot production (EPP) prior to a main oil field development on the field economy of an oil field development and production installation. Furthermore, the result of cases which reflect relevant situations connected with cost overruns are presented, as well as derivation of rational decision criteria for termination/continuation of a project subjected to cost overruns. Finally, an oil field development project scheduling is demonstrated.

Study on the Characteristics of Well Completion Technology in Deepwater Oil and Gas Field Development

2021 ◽  
Vol 3 (8) ◽  
pp. 70-72
Author(s):  
Jianbo Hu ◽  
◽  
Yifeng Di ◽  
Qisheng Tang ◽  
Ren Wen ◽  
...  
Keyword(s):  
Deep Water ◽  
Deep Sea ◽  
Oil And Gas ◽  
Gas Field ◽  
Marine Research ◽  
Field Development ◽  
Research Technology ◽  
Well Completion ◽  
Development Capacity ◽  
Exploration And Development

In recent years, China has made certain achievements in shallow sea petroleum geological exploration and development, but the exploration of deep water areas is still in the initial stage, and the water depth in the South China Sea is generally 500 to 2000 meters, which is a deep water operation area. Although China has made some progress in the field of deep-water development of petroleum technology research, but compared with the international advanced countries in marine science and technology, there is a large gap, in the international competition is at a disadvantage, marine research technology and equipment is relatively backward, deep-sea resources exploration and development capacity is insufficient, high-end technology to foreign dependence. In order to better develop China's deep-sea oil and gas resources, it is necessary to strengthen the development of drilling and completion technology in the oil industry drilling engineering. This paper briefly describes the research overview, technical difficulties, design principles and main contents of the completion technology in deepwater drilling and completion engineering. It is expected to have some significance for the development of deepwater oil and gas fields in China.

scholarly journals An Algorithm of Management Decision-Making Regarding the Feasibility of Investing in Geological Studies of Forecasted Hydrocarbon Resources

Resources ◽  
2018 ◽  
Vol 7 (3) ◽  
pp. 47 ◽  
Author(s):  
Alexey Cherepovitsyn ◽  
Dmitry Metkin ◽  
Alexander Gladilin
Keyword(s):  
Economic Evaluation ◽  
Industrial Development ◽  
Oil And Gas ◽  
Raw Material ◽  
The Arctic ◽  
Management Decision ◽  
Material Base ◽  
Gas Field ◽  
Field Development

Currently, under the conditions of increasing depletion of hydrocarbon reserves in Russia, it is necessary to consider the resource potential of poorly-researched oil and gas objects as a factor for ensuring the sustainable development of the oil and gas complex, in the context of the concept formation of rational subsoil utilization and a circular economy. The methodology of this study is based on a clear sequence of geological and economic studies of poorly-researched oil and gas objects, including four stages, such as analysis of the raw material base, assessment of the raw material potential, determination of technological development parameters, and economic evaluation. The methods of the probabilistic estimation of oil resources of the forecasted objects with regard to geological risk are outlined. Software packages “EVA—Risk Analysis” and “EVA—Economic Evaluation of Oil and Gas Field Development Projects” were used for estimation. The result of the study is the determination of the geological and economic efficiency of the development of nine hydrocarbon objects with the determination of the order of their further geological exploration, and introduction into industrial development on the example of the poorly-researched region of the Timan-Pechora oil and gas province located in the Arctic zone.

Abandonment Best Practices in Unitised Area for Wells and Facilities Straddling Two Countries in Malay Basin: A Case Study

2021 ◽  
Author(s):  
Kumar Nathan ◽  
M Arif Iskandar Ghazali ◽  
M Zahin Abdul Razak ◽  
Ismanto Marsidi ◽  
Jamari M Shah
Keyword(s):  
Oil And Gas ◽  
Late Life ◽  
Cost Effective ◽  
Successful Outcome ◽  
Maintenance Cost ◽  
Gas Field ◽  
Field Development ◽  
Host Government ◽  
Cycle Oil

Abstract Abandonment is considered to be the last stage in the oil gas field cycle. Oil and gas industries around the world are bounded by the necessity of creating an abandonment program which is technically sound, complied to the stringent HSE requirement and to be cost-effective. Abandonment strategies were always planned as early as during the field development plan. When there are no remaining opportunities left or no commercially viable hydrocarbon is present, the field need to be abandoned to save operating and maintenance cost. The cost associated on abandonment can often be paid to the host government periodically and can be cost recoverable once the field is ready to be abandoned. In Malaysia, some of the oil producing fields are now in the late life of production thus abandonment strategies are being studied comprehensively. The interest of this paper is to share the case study of one of a field that is in its late life of production and has wells and facilities that planned to be abandon soon. The abandonment in this field is challenging because it involves two countries, as this field is in the hydrocarbon structure that straddling two countries. Series of techno-commercial discussion were held between operators of these two countries to gain an integrated understanding of the opportunity, defining a successful outcome of the opportunity and creating an aligned plan to achieve successful abandonment campaign. Thus, this paper will discuss on technical aspects of creating a caprock model, the execution strategies of abandoning the wells and facilities and economic analysis to study whether a joint campaign between the operators from two countries yields significantly lower costs or otherwise.

Utilizing Pseudo Well Connections to Simulate Multi-Stage Hydraulic Fracturing - Example Based On the Study of a Tight Gas Asset

2021 ◽  
Author(s):  
Aamir Lokhandwala ◽  
Vaibhav Joshi ◽  
Ankit Dutt
Keyword(s):  
Hydraulic Fracturing ◽  
Oil And Gas ◽  
Flow Simulation ◽  
Oil And Gas Industry ◽  
Development Plan ◽  
Hydraulic Fractures ◽  
Tight Gas ◽  
Gas Field ◽  
Field Development ◽  
Fracture Modeling

Abstract Hydraulic fracturing is a widespread well stimulation treatment in the oil and gas industry. It is particularly prevalent in shale gas fields, where virtually all production can be attributed to the practice of fracturing. It is also used in the context of tight oil and gas reservoirs, for example in deep-water scenarios where the cost of drilling and completion is very high; well productivity, which is dictated by hydraulic fractures, is vital. The correct modeling in reservoir simulation can be critical in such settings because hydraulic fracturing can dramatically change the flow dynamics of a reservoir. What presents a challenge in flow simulation due to hydraulic fractures is that they introduce effects that operate on a different length and time scale than the usual dynamics of a reservoir. Capturing these effects and utilizing them to advantage can be critical for any operator in context of a field development plan for any unconventional or tight field. This paper focuses on a study that was undertaken to compare different methods of simulating hydraulic fractures to formulate a field development plan for a tight gas field. To maintaing the confidentiality of data and to showcase only the technical aspect of the workflow, we will refer to the asset as Field A in subsequent sections of this paper. Field A is a low permeability (0.01md-0.1md), tight (8% to 12% porosity) gas-condensate (API ~51deg and CGR~65 stb/mmscf) reservoir at ~3000m depth. Being structurally complex, it has a large number of erosional features and pinch-outs. The study involved comparing analytical fracture modeling, explicit modeling using local grid refinements, tartan gridding, pseudo-well connection approach and full-field unconventional fracture modeling. The result of the study was to use, for the first time for Field A, a system of generating pseudo well connections to simulate hydraulic fractures. The approach was found to be efficient both terms of replicating field data for a 10 year period while drastically reducing simulation runtime for the subsequent 10 year-period too. It helped the subsurface team to test multiple scenarios in a limited time-frame leading to improved project management.

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