Risk Estimate of Location of Exploratory Wells and the Choice of the Order of Drilling on Ermolov Area

Exploration works are very expensive, risky and have a lot of uncertainties. To appreciate how risky the carrying out of geological exploration on some area is, we have to first of all compare the expenses needed for geological exploration with the cost of received natural resources. The example of calculating the risks of prospective drilling on Ermolov area (Timan-Pechora province) is reviewed in the report. As a result of the calculations the order of drilling the prospective wells is defined