Document Type : Research Paper
Department of Petroleum Engineering, Amirkabir University of Technology, Tehran, Iran
Oil production enhancement has been a major area of study in recent decades. This term includes several types of technics. One of the production enhancement technics is using electrical submersible pumps (ESPs) to increase the rate of production from oil wells. In the present study, the economic value of using ESP pumps has been evaluated by implementing them on the wells of a large integrated model of a south western Iranian reservoir, which involves reservoir, wells, and surface facilities models. Besides, sequential quadratic programming was used to evaluate its efficacy in optimizing the production scenario. Therefore, four production scenarios were compared regarding their net present value and cumulative oil production in 20 years of production. The scenarios were (1) non-optimized natural flow, (2) optimized natural flow, (3) non-optimized ESP-implemented, and (4) optimized ESP-implemented. Ultimately, the results showed two points: First, Electrical Submersible Pumps (ESP) are a good choice for the production enhancement of the field of this study and leads to increased net present value. Second, the sequential quadratic programming is a rigorous algorithm, which can be employed to increase production revenue of a field with several decision variables and constraints.