Economical and balanced production in smart Petroleum Cyber–Physical System

Abstract

In Petroleum Cyber–Physical Social workflows, monetary profit optimization is essential. In this work, a production optimization approach for the Petroleum Cyber–Physical System is proposed which spans the field production to the petroleum social market. Dynamic Programming technique, Linear Programming technique and Stochastic Programming technique are first utilized to improve the monetary profit for a single petroleum company. A market-driven petroleum social workflow aware production optimization technique is then proposed to facilitate profit optimization among multiple petroleum companies. The case study result shows that the monetary income can be increased up to 311.67% in an one year time span.