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Probabilistic and Statistical Model for Evaluation of Geological Uncertainties Influence on Project Economics
- Publisher: European Association of Geoscientists & Engineers
- Source: Conference Proceedings, 7th EAGE Saint Petersburg International Conference and Exhibition, Apr 2016, cp-480-00044
- ISBN: 978-94-6282-179-8
Abstract
This paper is dedicated to determination of the value of geological uncertainties and risks influence on project’s economic efficiency. Particularly, the developed software that is able to provide the full cycle of probabilistic and statistical oil field development evaluation is considered. The cycle of evaluation includes STOIIP estimation, reservoir evaluation (on depletion) and project’s economic evaluation