Abstract
An offshore development may contain a complex combination of drilling, production and transport facilities. The selection and physical arrangement of these facilities can critically affect the economics of the development. In view of the large investments, it is obviously desirable to develop a model that can be used to optimise the profitability of these activities.
A life cycle model for offshore field development has been established as a compromise between a solvable model and at the same time a realistic model. Hard data has been used whenever possible and consistent, while subjective estimates have been used whenever required.
Methods for optimisation of the life cycle model are discussed and a specific method is used in order to indicate the potential of utilising a life cycle model in the design and optimisation of offshore developments.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
Almlund, J. & Nielsen, S. G. (1987), Life Cycle Model for Offshore Installations, (M. Sc. Thesis, Technical University of Denmark, Lyngby).
Almlund, J. & Karandikar, H. (1990), Synthesis of a Development Alternative for an Offshore Prospect using Coupled Decision Support Problems,(9th International Conference on Offshore Mechanics and Arctic Engineering, Houston).
Almlund, J. (1991), Life Cycle Model for Offshore Installations for use in Prospect Evaluations, (Ph.D. dissertation, Structural Reliability Series, Report nr. 86 (October), University of Aalborg, Denmark).
Brooke, A., Kendrick, D. & Meeraus, A. (1988), GAMS: A User’s Guide, (The World Bank, New York).
Conradsen, K. (1976), An Introduction to Statistics, (Institute of Mathematical Statistics and Operational Research, Lyngby).
Devine, M. D. & Lesso, W. G. (1969), Optimization Studies in the Development of Offshore Oil Fields, (ASME Petroleum Engineering Conference, Tulsa).
Dogru, S. A. (1975), The Optimization of Profitability of Offshore Oil Field Operations, (Ph. D. dissertation, University of Texas, Austin).
Dogru, S. A. (1987), Selection of Optimal Platform Locations, ( SPE Drilling Engineering, December).
Fad, B. E. & Summers, R. M. (1988), Parametric Estimating for New Business Ventures,(Engineering Costs and Production economics, 14, Amsterdam).
Frair, L. & Devine, M. D. (1973), Optimal Offshore Oil Field Development, ( ORSA Meeting, Milwaukee).
Griffen, J. J. (1988), Whole Life Cost Studies: A Defense Management Perspective, (Engineering Cost and Production Economics, 14, Elsevier Sciense Publishers, Amsterdam).
Grimmett, T. T. & Startzman, R. A. (1987), Optimization of Offshore Field Development to Minimize Investment,(SPE-AIME Economics & Evaluation Symposium, Dallas).
Grdttvedt, T. (1985), LCC - En teknik at pdvirke totalomkostningerne under et produkts levetid, (Sveriges mekanforbund, projekt 1297).
Lichtenberg, S. (1984), Project Planning in a variable world, (Poly Technical Publishing Company, Lyngby).
Taha, H. A. (1982), Operations Research; An Introduction, (Macmillan Publishing Co., Inc., New York).
Author information
Authors and Affiliations
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 1992 International Federation for Information Processing, Geneva, Switzerland
About this paper
Cite this paper
Almlund, J. (1992). Life Cycle Model for Offshore Installations. In: Rackwitz, R., Thoft-Christensen, P. (eds) Reliability and Optimization of Structural Systems ’91. Lecture Notes in Engineering, vol 76. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-84753-0_6
Download citation
DOI: https://doi.org/10.1007/978-3-642-84753-0_6
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-55403-5
Online ISBN: 978-3-642-84753-0
eBook Packages: Springer Book Archive