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Development Planning and Management of Petroleum Reservoirs Using Tank Models and Nonlinear Programming

Author

Listed:
  • James W. McFarland

    (University of Houston, Houston, Texas)

  • Leon Lasdon

    (University of Texas, Austin, Texas)

  • Verne Loose

    (Los Alamos National Laboratories, Los Alamos, New Mexico)

Abstract

This paper demonstrates the feasibility of applying generalized reduced gradient nonlinear programming methods to solve optimal control models for petroleum reservoir development planning and management. The objective of the models is to maximize present value of profits, and their decision variables are how many wells to drill in each time period, the production rates, abandonment time, and platform size. The analysis uses tank-type reservoir models to describe the reservoir dynamics, and models both a gas reservoir with water drive, and a three phase oil reservoir. Results of several case studies on each model are presented. Extensions that consider spatial variation in the reservoir and use grid reservoir models are being investigated.

Suggested Citation

  • James W. McFarland & Leon Lasdon & Verne Loose, 1984. "Development Planning and Management of Petroleum Reservoirs Using Tank Models and Nonlinear Programming," Operations Research, INFORMS, vol. 32(2), pages 270-289, April.
    • Handle: RePEc:inm:oropre:v:32:y:1984:i:2:p:270-289
    DOI: 10.1287/opre.32.2.270
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    Cited by:

    1. Jakobsson, Kristofer & Bentley, Roger & Söderbergh, Bengt & Aleklett, Kjell, 2012. "The end of cheap oil: Bottom-up economic and geologic modeling of aggregate oil production curves," Energy Policy, Elsevier, vol. 41(C), pages 860-870.
    2. Abdul-Salam, Yakubu & Kemp, Alex & Phimister, Euan, 2022. "Energy transition in the UKCS – Modelling the effects of carbon emission charges on upstream petroleum operations," Energy Economics, Elsevier, vol. 108(C).
    3. Jakobsson, Kristofer & Söderbergh, Bengt & Snowden, Simon & Aleklett, Kjell, 2014. "Bottom-up modeling of oil production: A review of approaches," Energy Policy, Elsevier, vol. 64(C), pages 113-123.

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