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An Application of Integer Programming to Economic Studies of Offshore Oil Development

Published online by Cambridge University Press:  17 August 2016

K.E. Rosing  and
P.R. Odell
K.E. Rosing
Affiliation:
Erasmus University Rotterdam
P.R. Odell
Affiliation:
Erasmus University Rotterdam
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Extract

Since the « Oil Crisis » of 1973 increasing attention has been paid to the supply and to the availability of the supply of energy. In particular, there has, over the past few years, been a reversal of the attitude that there is an adequate supply of oil for use by an expanding world economy and a number of increasingly pessemistic views have reveived wide publicity. We shall not, here, continue our arguments that these studies are overly pessemistic. We think it necessary to point out, however, that the modification of the world energy system to accommodate a new major energy source will be a lengthy, complicated and expensive affair; whether that new source is coal, nuclear (fission or fusion), solar, saltwater/freshwater ion transfer or rubber bands.

Type
Research Article
Information
Recherches Économiques de Louvain/ Louvain Economic Review , Volume 44 , Issue 1 , March 1978 , pp. 53 - 69
Copyright
Copyright © Université catholique de Louvain, Institut de recherches économiques et sociales 1978 

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References

1. Two of the most recent such studies are those of the CIA and the WEAS: CIA, « Prospects for Soviet Oil Production », (April 1977, Mimeo); and Workshop on Alternative Energy Strategies, Energy: Global Prospects 1985-2000, (New York, McGraw-Hill, 1977)Google Scholar.

2. Odell, P.R. and Rosing, K.E. (1977), A Return to an Energy Self-Sufficient Western Europe, Journal of the Institute of Fuel, vol. 50, no 405, pp. 185–194 Google Scholar, see particularly Table 1 and its discussion, pp. 185-187.

3. Grossling, B.F. (1977), The Petroleum Exploration Challenge with Respect to the Developing Nations, in Meyer, R.F. (ed). The Future Suuply of Nature-made Petroleum and Gas, Pergamon Press, New York Google Scholar.

4. Comtet, M. (1977), An R. and D. Effort for Oil Production in Deep Water, in Meyer, R.F. (ed.). The Future Supply of Nature-made Petroleum and Gas, Pergamon Press, New York Google Scholar.

5. A number of these new attitudes and relationships from them are discussed in : Rosing, K.E. and Odell, P.R. (1978), The Political Economics of Offshore Oil, Natural Resources Forum, Vol. 2, no 3 CrossRefGoogle Scholar.

6. Odell, P.R. and Rosing, K.E. (1975), The North Sea Oil Province: An Attempt to Simulate its Development and Exploration 1969-2029, Kogan Page, London Google Scholar.

7. A complete tabulation and comparison is presented in: Odell and Rosing, op. cit., (1977), Table 6, p. 192.

8. Odell, P.R. and Rosing, K.E. (1976), Optimal Development of the Sea’s Oil Fields: A Study in Divergent Government and Company Interests and their Reconciliation, Kogan Page, London Google Scholar.

9. Ibid., and Rosing, K.E. and Odell, P.R. (1978), op. cit., pp. 229-240.

10. See for example: Devine, M. (1973), A Model for Minimizing the Cost of Drilling Dual Completion Oil Wells, Management Science, Vol. 20 CrossRefGoogle Scholar. Fair, F. and Devine, M. (1975), Economic Optimization of Offshore Development, Management Science, Vol. 21 Google Scholar. Lilien, G.L. (1973), A Note on Offshore Oil Field Development Problems and Suggested Solutions, Management Science, Vol. 20 CrossRefGoogle Scholar.

11. Walmsley, P.J. (1975), The Forties Field, in Woodland, A.W. (ed.). Petroleum and the Continental Shelf of North West Europe, Vol. 1, Geology, Applied Science Publishers, London Google Scholar.

12. Scott, A.J. (1971), Combinatorial Programming, Spatial Analysis and Planning, Methuen, London Google Scholar; Massam, B. (1975), Location and Space in Social Administration, Arnold, London Google Scholar; Scheurwater, J. (1976), Facility Location A Review, Mimeo, Instituut voor Planologie, Rijksuniversiteit Utrecht, Utrecht Google Scholar.

13. Church, R.L. and Revelle, C.S. (1976), Theoretical and Computational Links between the p-Median, Location Set Covering and Maximal Covering Location Problem, Geographica Analysis, Vol. 8 Google Scholar.

14. The IBM procedure MPSX/370 was used.

15. See Odell, P.R. and Rosing, K.E. (1976), op. cit., for a full explanation and analysis of these position.