Mature offshore oil field development: Solving a real options problem using stochastic dual dynamic integer programming

Oil and gas companies are facing low output prices and are forced to focus on the development of mature fields. Relevant investment decisions for operators include lifetime-enhancing activities, such as drilling new wells or permanent shutdown. We study the problem of optimal timing of investments i...

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Bibliographic Details
Published in:	Computers & operations research Vol. 136; p. 105480
Main Authors:	Bakker, Steffen J., Kleiven, Andreas, Fleten, Stein-Erik, Tomasgard, Asgeir
Format:	Journal Article
Language:	English
Published:	New York Elsevier Ltd 01.12.2021 Pergamon Press Inc
Subjects:	Algorithms Decommissioning Expenditures Integer programming Mature oil field development Multistage stochastic integer programming Oil fields Operations research Real options SDDiP Shutdowns Uncertainty Upper bounds Mature oil field development Multistage stochastic integer programming SDDiP Real options
ISSN:	0305-0548, 0305-0548
Online Access:	Get full text
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