Abstarct: Optimizing the energy consumption and reduction of environmental emissions have been some of the main concerns of oil and gas industries. Since flaring process is the most significant mechanism of energy loss in existing domestic oil and gas fields, and generally in all plants using flares such as oil and gas wells, oil and gas refineries, process plants, chemical companies, landfills, etc., and since it emits the majority of environmental pollutants such as CO2, improvement and optimizing the performance of these systems are of great importance. A considerable portion of the composition of gases routinely sent to flares is natural gas, ethylene, propylene, 4-carbon chains, and hydrogen which are economically valuable compounds. The flaring rate of a process plant, e.g. an offshore station or a refinery may significantly be reduced by design and applying a specific flare gas recovery (FGR) system. In this way, gases which have been burning formerly can be used either as the feed stream of other processing units or as the fuel gas required for process heaters and power generation in the plant. Furthermore, using an FGR system concludes in tangible reduction of air pollution due to flare gas burning. Therefore, current FGR methods in the literature have been reviewed and a new FGR system has been developed that is acceptable in technical performance and shows high economic justification. In this research, two field cases have been investigated. Considering the composition analysis and flow rate of flared gases, the optimal FGR strategy for each case is determined using the tradeoffs between practical recovery options. Proposed cycles has been explored and evaluated from different aspects such as operation, efficiency, capital investment, and feasibility, respectively. Conceptual design of the proposed cycles has been supported with detailed design of the components required for each case study. Economic analysis of the proposed FGR strategies is also discussed in this research. Conceptual design of a power generation cycle from flare gas, in combination with current existing separation and refining processes has been concluded to a significant reduction in flaring of an oil refinery. This system also provides the possibility of separation and retrieving of valuable compounds from flared gases. Results of the economic evaluation verify the economic feasibility of the proposed cycle. Regardless of the structural complicacy of the plant being studied, proposing practical and economically viable method of electricity generation from gases sent to flares is the main achievement of the current study.