Abstract:

As part of larger research that deals with modeling different aspects concerning the oil and gas industry, this paper explores the possibilities of building operational models for optimal decisions in the oil industry with the aid of mathematical programming, aiming at the analysis of investment efficiency in the oil and gas industry. Hence, in the beginning, a special focus was placed on revealing for a group of oil fields some applications that may help us determine the contribution of each field to the overall flow of the group, so that the cost price of the oil produced by new wells in one stage is minimal. At the end of the first part of the paper, by solving the system consisting of the equations, the inequalities, and the efficiency function earlier introduced, successively in stages, led us to the distribution of the planned global production on the various objectives prepared for exploitation. The second part of the paper was dedicated to some numerical examples in the case of oil fields. As such, the first model presented the problem of determining the optimal number of drilling holes on structures so as to ensure the well production plan with either minimal operating costs or minimal investments. Next, the second model aimed at determining the number of wells on each of the three structure considered, so that the investments are minimal. Finally we argued that this is just one of many examples of applying mathematical programming to optimal distribute investments in the oil extraction industry