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Decision Analysis for Long-term and Short-term Production Optimization Applied to the Voador Field

Abstract

Optimization of oil production may be performed on different time horizons. Long-term optimization (which is typically performed over timescales of years) is usually conducted by reservoir engineers, whereas short-term optimization (which typically concerns days or weeks) is performed by production engineers. Long-term objectives focus on finding the best strategy to drain as much oil as possible from reservoirs. However, in reality it is often short-term goals such as maximizing daily oil rates that dictate the operational strategy. Unfortunately, these goals may be in conflict with each other. Therefore, incorporating long-term goals into short-term objectives is crucial. We present a novel approach to systematically combine long-term and short-term production optimization. The approach is based on a priori articul...

Category

Academic chapter

Language

English

Author(s)

  • Agus Ismail Hasan
  • Vidar Gunnerud
  • Bjarne Anton Foss
  • Alex Teixeira
  • Stein Krogstad

Affiliation

  • SINTEF Digital / Mathematics and Cybernetics
  • Norwegian University of Science and Technology
  • Petrobras

Year

2013

Publisher

Society of Petroleum Engineers

Book

SPE Reservoir Characterisation and Simulation Conference and Exhibition, 16–18 September, 2013, Abu Dhabi, UAE

ISBN

9781613992685

View this publication at Norwegian Research Information Repository