Production Optimization with Constraints
• Optimization set up
– Oil: $80/bbl, prod. water: $-10/bbl, inj. water: $-5/bbl
– GPS with incremental penalty, maximize NPV
• Simulation model and well specifications
– 20,400 grid blocks, 4 producers and 2 injectors
– Simulation time: 1800 days (200 day intervals)
– Production well bounds: 1,000 psia - 3,000 psia
– Injection well bounds: 5,500 psia – 7,500 psia
– Nonlinear constraints: water fractions < 50%