Improving Reservoir Management with a Regularized Production Optimization Method

Abstract

Effective reservoir management is an important aspect of the energy industry, particularly in oil and gas exploration and production. The primary challenge in reservoir management is balancing production with cost minimization and environmental protection. Traditional methods often struggle to handle the complexity of dynamic reservoir systems, so new approaches are necessary to enhance production efficiency and sustainability. This research aims to develop a regularized reservoir production optimization method, improving the efficiency of reservoir production and management, while reducing risks and uncertainties in oil and gas production operations. This study proposes a regularized optimization method that combines mathematical model techniques with optimization algorithms to account for variable factors in reservoir management. This method is applied to production data from several oil reservoirs to evaluate its effectiveness in increasing production yields. The results of the experiment demonstrate that the regularized optimization method can significantly increase production yield compared to the traditional method. Additionally, this method reduces resource wastage and minimizes operational costs in the long run.