Petroleum well optimization

This chapter presents a model base that will be considered as a benchmark for different specific problems. The optimization of drilling, completion, and production performance is a key component of field development and management. A variety of optimization models and methods can be used in the petroleum industry. In this chapter, fundamental optimization methods are introduced for petroleum wells. Geometric programming is employed to solve this nonlinear nonconvex problem using convex optimization techniques where achieving the global optimum solution is guaranteed. Multiobjective optimization is employed to achieve both optimization objectives simultaneously. Although the variables and parameters of most optimization problems have uncertainties, usually they are assumed as deterministic values in the problem modeling. Therefore, to fill these gaps, stochastic optimization introduces an optimal solution considering the parameters and variables with uncertainties as random variables. The reference models for drilling and production optimization benchmarking presented in this chapter include rate of penetration, minimum mechanical specific energy, hole cleaning, bottomhole assembly configuration, well trajectory, and well placement.