The Integrated Economic Model of Oil Field Development in the Context of New Industrialization

DOI

10.2991/assehr.k.210322.189How to use a DOI?

Keywords

Economic model, Oil field, New industrialization, System thinking, Production program, Development strategy

Abstract

In the context of the new industrialization, the issues related to the search for the optimal option for the field’s development are genuinely relevant. The article is devoted to creating an integrated economic model of oil-field development, allowing under the chosen development strategy, to achieve maximum cash flow at the site for the planned period, significantly improve the quality and validity of management decisions in oil companies. The article examines the theoretical aspects of economic modelling from the perspective of system thinking and emphasises its importance. It is noted that the conceptual basis for understanding economic modelling can be a system of rational, evolutionary and cognitive aspects. The results of creating a scheme of the complex economic model generated report on technical-economic indicators of field development according to the chosen strategy of development (on the example of Kotovskoe field in the Udmurt Republic), representing two sets of figures with graphic applications. In conclusion, a comparison is made between the economic efficiency of the actually implemented program and the calculated model, which allows achieving the maximum cash flow for the field over the planned period, increasing the company’s income, and reducing the risk of making a non-optimal management decision on the development of the field. It is concluded that the stages of the developed economic model can be transposed to the calculation of any field.

Copyright

© 2021, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Olga Simchenko
AU  - Valery Grakhov
AU  - Vadim Krivorotov
AU  - Evgeny Chazov
AU  - Alexander Suntsov
PY  - 2021
DA  - 2021/03/30
TI  - The Integrated Economic Model of Oil Field Development in the Context of New Industrialization
BT  - Proceedings of the VIII International Scientific and Practical Conference 'Current problems of social and labour relations' (ISPC-CPSLR 2020)
PB  - Atlantis Press
SP  - 629
EP  - 635
SN  - 2352-5398
UR  - https://doi.org/10.2991/assehr.k.210322.189
DO  - 10.2991/assehr.k.210322.189
ID  - Simchenko2021
ER  -