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Paper Details

Paper Title
Economic and Feasibility Studies using Particle Swarm Optimization for Petroleum and Gas Projects
Abstract
High financial returns may be realized from oil and gas projects as a result of the high degree of risk due to high investment levels over a long period of time and high-tech resources. The capital allocation process and related decisions have a critical impact in final performance. A feasibility study is a tool for investigating the viability of the prospective projects. It is conducted on the very first stages of project development; to reveal whether or not the project is viable from all aspects.In this paper a proposed model, to maximize the profit using the net present value method, based on particle swarm optimization (PSO) technique is built to assess the overall viability for the petroleum and gas projects. Where theoverall viability for the petroleum and gas projects includes the operational, economic and financial feasibility studies. Theproposed modelis applied to aproject being conducted byEgyptian Petroleum Research Institute (EPRI)and the Academy for Scientific Research & Technology (ASRT). The total project budget is 20 million L.E. The costs are shared equally by EPRI and ASRT. The project financier is ASRT.The results are shown that the proposed model gives optimal solutions, which can be added as an alternative approaches for solving petroleum and gas projects evaluation problem. Moreover, the results of the proposed model indicated that the proposed model is robustness and reliable for evaluating the project under investigation.
Keyword
Economic, Feasibility Studies,Thermal Enhanced oil recovery, Semi-pilot,Steamflooding, Optimization Technique, PSO,Petroleum and Gas Projects.
Others Details
Paper Id : 55309
Author Name : M. M. El-Sherbiny
Co-Author Name(s) : A. M. Al-SabaghS. A. El-TemtamyA. M. RagabM. A. Abo Shady
Volume/Issue No : Volume 04 Issue 07
Page No : 110-117
DOI Number : DOI:10.21090/IJAERD.55309
License : This work is licensed under a Creative Commons Attribution 4.0 International License.
website : http://www.ijaerd.com/index.php
Impact Factor : 5.71, SJIF-2017
ISSN Details : eISSN: 2348-4470, pISSN:2348-6406