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Mathematical modeling of economic indices for oil field development

Research paper by Yu. K. Mizyakin, V. A. Mizyakina; N. A. Petrov

Indexed on: 03 Dec '16Published on: 01 Oct '16Published in: Journal of Applied and Industrial Mathematics



Abstract

Abstract Under study is some mathematical model for quantitative evaluation of investment projects for development of oil fields at the stage of conceptual design. As the basis of such a model we suggest that the field is considered as a cluster of equitype elements of area pattern of oil wells. The model operates with the net present value as a continuous function of the process parameters and enables us to analyze a broad spectrum of possible options in implementing the investment project. Some important ratios between the technical and economic parameters are obtained in concise and practically suitable forms by application of operational calculus and the Laplace transform.AbstractUnder study is some mathematical model for quantitative evaluation of investment projects for development of oil fields at the stage of conceptual design. As the basis of such a model we suggest that the field is considered as a cluster of equitype elements of area pattern of oil wells. The model operates with the net present value as a continuous function of the process parameters and enables us to analyze a broad spectrum of possible options in implementing the investment project. Some important ratios between the technical and economic parameters are obtained in concise and practically suitable forms by application of operational calculus and the Laplace transform.