Field development optimization in mature oil reservoirs using a hybrid algorithm

By considering well type conversion, it will increase the complexity of searching space but provide more realistic and optimal development plan. We demonstrate it in 2D synthetic and 3D PUNQ-S3 reservoirs for optimal field development. The proposed optimization considering well type conversion provides higher net present value than the fixed well type optimization in the both cases. The hybrid algorithm also shows better search performances than DE and MADS algorithms. Thus, we conclude that consideration of well conversion schedules is necessary for economical field development scenarios in mature oil fields.