Geodesic
Mathematical modeling of economic indices for oil field development
Sibirskij žurnal industrialʹnoj matematiki, Tome 19 (2016) no. 4, pp. 61-69.

Voir la notice de l'article provenant de la source Math-Net.Ru

We construct a mathematical model for the quantitative estimation of investment projects for developing oil fields at the stage of conceptual design. As the base of such a model we use the concept in which the field is considered as a cluster of single-type elements of an area well pattern. The model operates on 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. Many important relations between the technical and economical parameters are obtained in a concise and practically suitable form through the application of operational calculus and the Laplace transform.
Keywords: oil field development strategy, net present value
Mots-clés : Laplace transform. 
@article{SJIM_2016_19_4_a6,
     author = {Y. K. Mizyakin and V. A. Mizyakina and N. A. Petrov},
     title = {Mathematical modeling of economic indices for oil field development},
     journal = {Sibirskij \v{z}urnal industrialʹnoj matematiki},
     pages = {61--69},
     publisher = {mathdoc},
     volume = {19},
     number = {4},
     year = {2016},
     language = {ru},
     url = {http://geodesic.mathdoc.fr/item/SJIM_2016_19_4_a6/}
}
TY  - JOUR
AU  - Y. K. Mizyakin
AU  - V. A. Mizyakina
AU  - N. A. Petrov
TI  - Mathematical modeling of economic indices for oil field development
JO  - Sibirskij žurnal industrialʹnoj matematiki
PY  - 2016
SP  - 61
EP  - 69
VL  - 19
IS  - 4
PB  - mathdoc
UR  - http://geodesic.mathdoc.fr/item/SJIM_2016_19_4_a6/
LA  - ru
ID  - SJIM_2016_19_4_a6
ER  - 
%0 Journal Article
%A Y. K. Mizyakin
%A V. A. Mizyakina
%A N. A. Petrov
%T Mathematical modeling of economic indices for oil field development
%J Sibirskij žurnal industrialʹnoj matematiki
%D 2016
%P 61-69
%V 19
%N 4
%I mathdoc
%U http://geodesic.mathdoc.fr/item/SJIM_2016_19_4_a6/
%G ru
%F SJIM_2016_19_4_a6
Y. K. Mizyakin; V. A. Mizyakina; N. A. Petrov. Mathematical modeling of economic indices for oil field development. Sibirskij žurnal industrialʹnoj matematiki, Tome 19 (2016) no. 4, pp. 61-69. http://geodesic.mathdoc.fr/item/SJIM_2016_19_4_a6/

[1] Hotelling H., “The Economics of exhaustible resources”, J. Political Economy, 39 (1931), 137–175 | DOI | Zbl

[2] Vygon G. V., Metody otsenki neftyanykh kompanii v usloviyakh neopredelennosti, Dis. $\dots$ kand. ekonomicheskikh nauk, TsEMI RAN, M., 2001

[3] Nystad A. N., Petroleum Reservoir Management: a Reservoir Economic Approach, SPE 13833, 1985

[4] Nystad A. N., Reservoir Economic Optimization, SPE 13775, 1985

[5] Ramage W. E., Economics Evaluation of Thermal Recovery Projects, SPE 16852, 1987

[6] Frenette C. T. et al., Integrated Economic Model for Evaluation and Optimization of Cyclic Steam Stimulation Project, 2014, V. 5

[7] Roberts T., Economics of Well Spacing, SPE 240-MS, 1961

[8] Tokunaga H., Hice B. R., A Method to Determine Optimum Well Spacing, SPE 1673-MS, 1966

[9] Hayhow I. G., Lemee J. A., Reserves to Production Ratios and Present Value Relationships, SPE 59783, 2000

[10] Khasanov M. M. i dr., Optimalnye parametry razrabotki neftyanogo mestorozhdeniya, SPE 162089, 2012

[11] Bobar A. R., Reservoir Engineering Concepts on Well Spacing, SPE 13775, 1985

[12] Haylow I. G., Lemee J. A., Reserves to Production Rations and Present Value Relationships, SPE 59783, 2000

[13] Corrie R. D., An Analytical Solution to Estimate the Optimum Number of Development Wells to Achieve Maximum Economical Return, SPE 71431, 2001

[14] Buser S. A., “Laplace Transform as Present Value Rules: A Note”, J. Finance, 41:1 (1986), 243–247 | DOI | MR

[15] Korn G., Korn T., Spravochnik po matematike dlya nauchnykh rabotnikov i inzhenerov, Nauka, M., 1974 | MR