Paper Details

High financial returns may be realized from oil and gas projects as a result of the high degree of risk due tohigh investment levels over a long period of time and high-tech resources. The capital allocation process and relateddecisions have a critical impact in final performance. A feasibility study is a tool for investigating the viability of theprospective projects. It is conducted on the very first stages of project development; to reveal whether or not the project isviable from all aspects. In this paper a proposed model, to maximize the profit using the net present value method, basedon particle swarm optimization (PSO) technique is built to assess the overall viability for the petroleum and gas projects.Where the overall viability for the petroleum and gas projects includes the operational,economic and financial feasibilitystudies.The proposed model is applied to a project being conducted by Egyptian Petroleum Research Institute (EPRI) and theAcademy for Scientific Research & Technology (ASRT). The total project budget is 20 million L.E. The costs are sharedequally by EPRI and ASRT. The project financier is ASRT. The results are shown that the proposed model gives optimalsolutions, which can be added as an alternative approaches for solving petroleum and gas projects evaluation problem.Moreover, the results of the proposed model indicated that the proposed model is robustness and reliable for evaluatingthe project under investigation.

M. M. El-Sherbiny, A. M. Al-Sabagh, S. A. El-Temtamy, A. M. Ragab, M. A. Abo Shady, “Economic and Feasibility Studies using Particle Swarm Optimization for Petroleum and Gas Projects”, International Journal of Advance Engineering and Research Development (IJAERD), Vol. 4, Issue 7, pp. 110-117, July 2017.