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ABSTRACT:
When operators must decide between a traditional approach to the production facilities and one including multiphase flow meters (MPFM), they must compare the capital and operating expenditures (CAPEX and OPEX) of each solution. In order to achieve this, CAPEX and OPEX for the same brand of test separator and multiphase flow meter were obtained.
A deterministic economic model was developed for evaluating the economics of MPFM and Test Separators. Two cases were considered. Case A considered whether it will be more economical to replace a test separator with a multiphase flow meter when the test separator is already in place while Case B considered which is more economically viable to install between the multiphase flow meter and test separator.
Net Present Value (NPV) for both cases was calculated. Case A gave an NPV of $72,630.65 while Case B gave an NPV of $91,064.83. This shows that MPFM is a more cost-effective means of obtaining well-test data. Sensitivity studies of the economic parameters were also considered and spider diagrams presented.
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STATISTICS
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