Model Oil Shale Production Planning
Company
Energy company operating power production using oil shale extracted from local mines.
Challenge
Optimize the combined generation of electricity and steam using oil shale under various operational constraints and market price volatility and uncertainty.
SATURN
- Modeled one of the most complicated multi-product operating systems including oil shale, fuels, heat, and power.
- Simulated correlated market prices and co-optimized multi-product operations for various market and operating conditions.
- Empowered fast simulation and optimization, streamlined data setup and analysis, and provided on-demand reporting.
Impact
- Developed optimized framework for complex multi-product operations.
- Enabled integrating advanced stochastic simulation with multi-product co-optimization.
- Identified operation plans that reduce costs and manage risks.