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Abstract

Life-cycle optimization is the process of finding field operation strategies that aim to optimize recovery or economic value with a long-term (years to decades) horizon. A reservoir simulation model is therefore generally appropriate and sufficient to explore the impact of different recovery scenarios. A number of challenges arise when trying to determining the optimal recovery strategy. We describe a practically feasible model-based optimization workflow that addresses complications associated with computational effort, large numbers of decision variables (controls), and the uncertainty in the properties of the reservoir. A software tool has been developed, in cooperation with industry partners, and applied to several synthetic and real field cases to demonstrate the value and potential benefits of this workflow, such as optimal well operating strategies for multiple wells that increase recovery or economic value, improved well design, and reservoir understanding.

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/content/papers/10.3997/2214-4609.20140547
2014-06-16
2024-03-29
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http://instance.metastore.ingenta.com/content/papers/10.3997/2214-4609.20140547
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