MODELING PETROLEUM FIELDS WITH MOVABLE PLATFORMS

Mathematical programming models for an early evaluation of a petroleum field have previously been developed. Among these is a mixed integer programming model that incorporates a reservoir simulation and an economic evaluation model. This model is formulated to answer questions related to where wells should be drilled when the goal is to get the best total value from the field development. Motivated by the new technology in flexible platform systems, we have developed an extension of this model. In many cases it is desirable to determine the value of the possibility of moving a production platform. We discuss a model that finds when, if at all, the platform should be moved to another location on the field. We also present some experimental results illustrating the value of this feature.