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-
P' Is a Different Kind of Animal
- Publisher: European Association of Geoscientists & Engineers
- Source: Conference Proceedings, 67th EAGE Conference & Exhibition, Jun 2005, cp-140-00034
Abstract
Most of the "E" part of the E&P business has, by now, embraced the main principles of probabilistic risk analysis: - Reserves distribution forecasts for prospects. - Prediction of chance of completion. - Probabilistic NPV forecasts, given success. - Chance-weighted economic yardsticks, allowing comparison of projects.