Optimization and Systems Theory Seminar
Friday, April 3, 1998, 11.00-12.00, Room 3721, Lindstedtsvägen 25

Professor Kurt Jörnsten
Norwegian Institute of Economics and Business Administration
(visiting professor at Stockholm School of Economics, spring 1998),

Optimal relinquishment according to the Norwegian petroleum law:
A combinatorial optimization approach

We present a combinatorial optimization model for the relinquishment of petroleum licenses in accordance with the rules given in the legislation concerning the Norwegian continental shelf. It is shown that a relaxation of the model can be interpreted as the problem of finding a minimal connected component of a given cardinality in an unditrected grid graph with node weights. We discuss the differences between the 1973 and the 1991 rules and how they lead to different mathematical models. A discussion of the complexity of the mathematical problem for optimal relinquishment is presented and a presentation of related graph theoretical models is given. We also present results on an illustrative example based on real life data that shows the effect of different legal restrictions.
Calendar of seminars
Last update: March 24, 1998 by Anders Forsgren, andersf@math.kth.se.