Decision Support in Long Term Planning of Petroleum Production Fields

Decision Support in Long Term Planning of Petroleum Production Fields

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Abstract

In this paper, the goal is to optimize a petroleum production area consisting of several fields. This domain has great potential for using decision support tools to improve economical performance. In many of the mature petroleum areas, the potential for new development mainly includes smaller fields. Hence, strategic planning of the new development projects becomes increasingly important since smaller fields require more extensive planning to ensure profitability. The planning process for strategic investment decisions and production levels is today based on manual scenario analysis, a process that is both complex and time consuming. The intention of the decision support tool presented is to improve the efficiency of the concept study and give the planners a better basis for making their long term decisions.
Content

In this paper, the goal is to optimize a petroleum production area consisting of several fields. This domain has great potential for using decision support tools to improve economical performance. In many of the mature petroleum areas, the potential for new development mainly includes smaller fields. Hence, strategic planning of the new development projects becomes increasingly important since smaller fields require more extensive planning to ensure profitability. The planning process for strategic investment decisions and production levels is today based on manual scenario analysis, a process that is both complex and time consuming. The intention of the decision support tool presented is to improve the efficiency of the concept study and give the planners a better basis for making their long term decisions.

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