In production optimization, the optimal water injection profiles and the production borehole pressures are computed by solution of an optimal control problem that maximizes a financial measure such as the Net Present Value (NPV).
An accurate estimation of the reservoir fluid temperature from the analytical formulations can yield a better estimation of well productivity, which is useful in production optimization and well development planning.
As a result, in Sarma and Chen (2008), adjoint method is suggested where the derivative of objective function is computed using the concept of optimal control theory and production optimization.
An accurate estimation of the reservoir fluid temperature from the analytical formulations can yield a better estimation of well productivity index, which is useful in production optimization and well development planning.
Even with a history matched model, a robust production optimization algorithm is required to find an optimal value of net present value (NPV).
Nonetheless, they concluded that the steepest ascent method is the most efficient while the EnKF, when treated as a production optimization algorithm, yielded poor estimates of the optimal controls.
Life-cycle production optimization is performed on an oil reservoir to find the optimal well controls for a fifteen-year producing period.
Production optimization aims at achieving the best development performance for a given reservoir by optimizing well controls.
A new methodology for efficiently modeling, updating, and optimizing large waterflooding operations is presented that bases the ensemble closed-loop production optimization (EnOpt) upon the capacitance resistive model (CRM) as the underlying dynamical system.
For production optimization, we use the ensemble-based optimization method.
The production optimization of α-amylase (E.C.3.2.1.1).
