Stochastic methods for evaluating the effectiveness of Arctic shelf field development strategy
Authors: M.A. Kuznetsov, K.K. Sevastyanova, S.A. Nekhaev (RN-SakhalinNIPImorneft LLC )
A method for evaluating the effectiveness of field development strategy in conditions of risk and uncertainty is briefly describes. Volumes of recoverable reserves and the economic market conditions are considered as key sources of uncertainty. The proposed approach allows obtaining integral criterion of the investment project efficiency, taking into account possible flexibilities in the development strategy upon receipt of new information.
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