Sequencing offshore oil and gas fields under uncertainty

Article Abstract:

A decision support system for sequencing investments on offshore oil and gas fields is presented. The system uses integer programming and scenario aggregation to maximize total economic benefit and generate input data for longrange planning in oil and gas exploration. Some parameters involved in determining the optimal solution are future oil price, future oil and gas demand, actual available quantity of oil and gas in reservoirs and optimal transportation modes. The stochastic mixed-integer programming problem is expressed as a deterministic model that has been successfully used by the Danish and Norwegian energy authorities.

Investment analysis, Securities analysis, Oil well drilling, Submarine, Offshore oil well drilling

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Solving large scale generalized assignment problems - an aggregation/disaggregation approach

Article Abstract:

Aggregation/disaggregation is proposed as a solution for large-scale generalized assignment problems. The aggregation concept involves the determination of the extent of loss of the degree of accuracy under specific aggregation. This determination includes a lower bound based on the disaggregated solution and an upper bound depending on the solution to the aggregated problem. Hierarchical cluster analysis is used to identify a proper partition in the aggregation process.

Research, Linear programming, Numerical analysis, Cluster analysis

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Scheduling a project to maximize its net present value: an integer programming approach

Article Abstract:

An integer programming algorithm for the solution of limited-resource project scheduling problems is presented. The method is oriented toward maximizing the net present value of the project. It involves depth-first branch and bound solution procedure searches from among viable sets of completion times for each activity of the project. The method shows substantial decreases in the required computation time for problem solving with the use of fathoming rules.

Scheduling (Management), Present value

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