Optimization of Upstream Oil and gas projects portfolio

Publish Year: 1400
نوع سند: مقاله کنفرانسی
زبان: English
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شناسه ملی سند علمی:

ONSM01_043

تاریخ نمایه سازی: 31 مرداد 1400

Abstract:

Project portfolio management is concerned with managing groups of projects, programs and operationalactivities that compete for scarce resources. This study applies the oil and gas optimization projectportfolio model for selecting of Oil and Gas project portfolio. This model is a decision support goaledto help E&P Decision Makers to select project portfolio in situations that there are many decisionvariables/ attributes and the future performance of these variables is risky. The model is based on ideasthat extracted from the fields of multi-objective optimization, stochastic optimization and decision andrisk analysis. This optimization solved by multi-objective algorithm named NSGA-II. The outcome ofthis algorithm is the Pareto. Decision makers can use the Pareto Set to obtaining the efficient frontierand reach to objectives subject to constraint and also use the Pareto Set to make a decision consideringto risk. NIOC can use this model to increase the NPV and reserve and also decrease the risk of portfoliossubject to the budget constraint.

Keywords:

project portfolio optimization , upstream oil and gas project , Pareto set , NSGA۲

Authors

Mohamadreza Bahramchoobin

Refinery Maintenance Planner, South Pars Gas Complex

Mahdi Massahi

Doctor of philosophy (PhD), Amirkabir University of Technology