Optimisation of gas field portfolios in the presence of uncertainty

Yaser Obiedallah Khojah
The study proposes an approach that incorporates both surface and subsurface parameters of gas projects in a portfolio model called the integrated stochastic gas economic optimisation model (ISGEM_opt). The model uses Monte Carlo simulation and genetic algorithms (GAs) to optimise the portfolio’s production strategy and satisfy contractual requirements under gas-in-place uncertainty. The production strategy is defined as the production rate and the starting time of each field in the portfolio. The optimised strategy demonstrates how...
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