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Furthermore, it is shown that the input parameters like cost index factor, electricity cost, compressor efficiency and the heat transfer areas have a remarkable influence on the product cost and must be selected carefully for accurate cost estimation.
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The cost of compressor is approximately $1.18 M.
The objective function can consider the annualized capital costs on compressor, turbine and gas pipelines, the operating costs related to fuel and the revenue from produced oil.
For example, the technique was successfully exploited to find the optimal pipe diameter (Mohajeri et al. 2012), lowering fuel cost in compressors (Chebouba et al. 2009) and reducing fuel expended in compressors for a fixed throughput (Arya and Honwad 2015).
Minimize fuel cost of compressors (Summing et al. 2000).
Low cost air compressors can be adopted for compression of helium and special gases, leading to significant cost saving.
At the second case study, a complex petroleum production system with multiple wells is simulated and optimized to obtain the optimal design considering annualized costs of compressor, turbine driver, gas pipelines and fuel gas consumption.
The solution of the optimization problem can estimate important information for the conceptual design phase of a petroleum production system: (i) the injected gas flow rates that guarantees maximum oil production, (ii) the injected gas flow rates for maximum profit and (iii) optimal design of gas lift system considering capital costs of compressor, turbine and gas pipelines.
Since the objective is to minimize costs, the combination of the compressor costs and the shedding costs are calculated.
Capital costs involved the capture facility, pipeline, compressor and cost of wells, these costs constituted $28 M.
Therefore, the total cost of the compressor would be $1.65 M (Shaoran 2007).
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