Abstract
In the current paper, we present how the proposed Monte Carlo simulation algorithm can be used in the context of production optimization in the oil and gas industry. Petroleum refining begins with the distillation, or fractionation, of crude oils into separate hydrocarbon groups. The resultant products are directly related to the characteristics of the crude processed. Most distillation products are further converted into more usable products by changing the size and structure of the hydrocarbon molecules through cracking, reforming, and other conversion processes. These converted products are then subjected to various treatments and separation processes such as extraction, hydrotreating, and sweetening to remove undesirable constituents and improve product quality. Integrated refineries incorporate fractionation, conversion, treatment, and blending operations and may also include petrochemical processing. For example, formulating and blending is the process of mixing and combining hydrocarbon fractions, additives, and other components to produce finished products with specific performance properties.
