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Intelligent Systems in Oil Field Development under Uncertainty

Medium: Buch
ISBN: 978-3-642-10096-3
Verlag: Springer
Erscheinungstermin: 28.10.2010
Lieferfrist: bis zu 10 Tage

The decision to invest in oil field development is an extremely complex problem, even in the absence of uncertainty, due to the great number of technological alternatives that may be used, to the dynamic complexity of oil reservoirs - which involves mul- phase flows (oil, gas and water) in porous media with phase change, and to the c- plicated combinatorial optimization problem of choosing the optimal oil well network, that is, choosing the number and types of wells (horizontal, vertical, directional, m- tilateral) required for draining oil from a field with a view to maximizing its economic value. This problem becomes even more difficult when technical uncertainty and e- nomic uncertainty are considered. The former are uncertainties regarding the existence, volume and quality of a reservoir and may encourage an investment in information before the field is developed, in order to reduce these uncertainties and thus optimize the heavy investments required for developing the reservoir. The economic or market uncertainties are associated with the general movements of the economy, such as oil prices, gas demand, exchange rates, etc., and may lead decision-makers to defer - vestments and wait for better market conditions. Choosing the optimal investment moment under uncertainty is a complex problem which traditionally involves dynamic programming tools and other techniques that are used by the real options theory.


Produkteigenschaften


  • Artikelnummer: 9783642100963
  • Medium: Buch
  • ISBN: 978-3-642-10096-3
  • Verlag: Springer
  • Erscheinungstermin: 28.10.2010
  • Sprache(n): Englisch
  • Auflage: Softcover Nachdruck of hardcover 1. Auflage 2009
  • Serie: Studies in Computational Intelligence
  • Produktform: Kartoniert, Previously published in hardcover
  • Gewicht: 470 g
  • Seiten: 288
  • Format (B x H x T): 155 x 235 x 17 mm
  • Ausgabetyp: Kein, Unbekannt
Autoren/Hrsg.

Herausgeber

ANEPI: Economic Analysis of Oil Field Development Projects under Uncertainty.- Real Options Theory.- Decision Support Methods.- Intelligent Optimization System for Selecting Alternatives for Oil Field Exploration by Means of Evolutionary Computation.- Real Option Value Calculation by Monte Carlo Simulation and Approximation by Fuzzy Numbers and Genetic Algorithms.- Analysis of Alternatives for Oil Field Development under Uncertainty.- High-Performance Processing for E&P.- Appendix A – Types of Uncertainty in Investment Projects.- Appendix B – Variance Reduction Techniques.- Appendix C – Stochastic Processes.- Appendix D – Grant, Vora and Weeks Algorithm for Determining the Value of an American Option.- Appendix E – Calculation of the Mean Value and Variance of Fuzzy Numbers.- Appendix F – Real Options Valuation Methods.- Appendix G – Analytical Model of the Expansion Option Problem.- Appendix H – CORBA Architecture.