Optimization

Interface to GAMS optimization

Optimization is essential to move on from descriptive analytics to prescription.  A flexible non-linear, ‘derivative-free’ optimizer is included in DynamicForecaster for decline curve fitting to production data.  It can also be used for other purposes.

Optionally, DynamicForecaster has an object-oriented interface to the General Algebraic Modeling System (GAMS) for large-scale optimization.  GAMS is specifically designed for modelling linear, nonlinear and mixed integer optimization problems.

Links: introduction to GAMS, GAMS brochure (2.4 Mb), GAMS – An Introduction, International Conference on Operations Research, Sep-2014 ( 4 Mb).

GAMS allows the user to concentrate on the modelling problem by making the setup simple. The system takes care of the time-consuming details of the specific machine and system software implementation.

GAMS is especially useful for handling large, complex, one-of-a-kind problems which may require many revisions to establish an accurate model. The system models problems in a highly compact and natural way. The user can change the formulation quickly and easily, can change from one solver to another, and can even convert from linear to nonlinear with little trouble.

The GAMS licence has to be bought separately, except for small demonstration examples.  As mentioned above, another non-linear optimizer is included as standard in DynamicForecaster.

Optimization consultancy services

For consultancy on building mathematical optimization models, including with GAMS, please contact Janos Pintér (LinkedIn and Pinter Consulting Services).

References

http://dynamicforecaster.com/optimization/global-optimization-oil-gas-production-references/