TITLE:
Concept Selection for Hydrocarbon Field Development Planning
AUTHORS:
J. Efrain Rodriguez-Sanchez, J. Martin Godoy-Alcantar, Israel Ramirez-Antonio
KEYWORDS:
Oil; Planning; Deep Water; Concept; Front End Loading
JOURNAL NAME:
Engineering,
Vol.4 No.11,
November
22,
2012
ABSTRACT: Two methodologies to rank exploitation scenarios for hydrocarbon fields during screening and concept selection stages are described and compared. First a selection based on net present value valuation is introduced and an explanation on its limitations for field planning are given thus, a second selection based on a multiattribute decision model where other technical factors not directly associated to economics such as operability and reliability are considered. A comparison of net present value and the multiattribute decision model on a concept selection study case shows differences on the scenario selection for exploitation. Sources of the different outcomes between the two methodologies are identified. A stochastic analysis for the multiattribute decision model is performed to have a complete view of the possible outcomes since the factors in the multiattribute decision model are measured qualitatively and their values can vary depending on experts’ knowledge and experience. Recommendations obtained from the methodologies studied for screening and concept selection are given.