1887

Abstract

Summary

In this abstract we consider the full cycle of geologacal and economical assessments of hydrocarbon exploration prospects needed for the development of correct exploration strategy. This assessment includes several stages: evaluation of probability of geological success and analysis of economic efficiency of geological exploration project. Different cases are considered — evaluation of single prospects and evaluation of complicared plays having several interdependent prospects charaterized of shared geological factors. On final stage of economi-geological evaluation EMV (expected monetary value) which takes into account both probability of geological success and indicators of economic efficiency is analized. It is shown that depending on the work strategy the balance of the cost and expected value can lead to substantially different results.

Loading

Article metrics loading...

/content/papers/10.3997/2214-4609.201701017
2017-06-12
2020-04-02
Loading full text...

Full text loading...

References

  1. Brown, P.J., RosePR.
    [2001] Plays and Concessions — a straightforward method for assessing volumes, value and chance, AAPG, Search and Discovery Article #40024.
    [Google Scholar]
  2. Guidelines for Application of the petroleum resources management system.
    [2011] SPE/AAPG/WPC/SPEE/SEG. 222 p.
    [Google Scholar]
  3. Guidelines for Risk Assessment of Petroleum Prospects
    [2000] Committee for Coastal and Offshore Geoscience Programmes in East and Southeast Asia (CCOP). 35 pp.
    [Google Scholar]
  4. Lowry, D. C.
    [2005] Economic evaluation of prospects with a top seal risk, in P.Boult and J.Kaldi, eds., Evaluating fault and cap rock seals: AAPGHedberg Series, no. 2, p. 261–268.
    [Google Scholar]
  5. Murtha, JA.
    [2001] Risk Analysis for the Oil Industry, A supplement to Hart’s E&P., 11p.
    [Google Scholar]
  6. Otis, R.M., Schneidermann, N.
    [1997] A Process for Evaluating Exploration Prospects, AAPG Bulletin, v.81, pp 1087–1109.
    [Google Scholar]
  7. Rose, P.R.
    [1987] Dealing with the Risk and Uncertainty in Exploration: How can We Improve?AAPG Bulletin, v.71, p. 1–16.
    [Google Scholar]
  8. [2000] Risk Analysis and Management of Petroleum Exploration Ventures, AAPG Methods in Exploration No. 12, 172 p.
    [Google Scholar]
http://instance.metastore.ingenta.com/content/papers/10.3997/2214-4609.201701017
Loading
/content/papers/10.3997/2214-4609.201701017
Loading

Data & Media loading...

This is a required field
Please enter a valid email address
Approval was a Success
Invalid data
An Error Occurred
Approval was partially successful, following selected items could not be processed due to error