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    Economic Risk Analysis of Offshore Projects

    Source: Journal of Offshore Mechanics and Arctic Engineering:;1992:;volume( 114 ):;issue: 003::page 165
    Author:
    E. M. Bitner-Gregersen
    ,
    J. Lereim
    ,
    I. Monnier
    ,
    R. Skjong
    DOI: 10.1115/1.2919968
    Publisher: The American Society of Mechanical Engineers (ASME)
    Abstract: A quantitative analysis of economic risk associated with large investments in offshore oil and gas field development and production is presented. The analysis is intended as a supporting tool in decision-making faced with uncertainty and risk, to study the effect of alternative decisions in an easy manner. The descriptors for the project assessment, such as the Internal Rate of Return (IRR) and Net Present Value (NPV) are applied. The study demonstrates first the impacts of early pilot production (EPP) prior to a main oil field development on the field economy of an oil field development and production installation. Furthermore, the result of cases which reflect relevant situations connected with cost overruns are presented, as well as derivation of rational decision criteria for termination/continuation of a project subjected to cost overruns. Finally, an oil field development project scheduling is demonstrated.
    keyword(s): Ocean engineering , Risk analysis , Oil fields , Uncertainty , Natural gas fields , Decision making AND Economics ,
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      Economic Risk Analysis of Offshore Projects

    URI
    http://yetl.yabesh.ir/yetl1/handle/yetl/110693
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    • Journal of Offshore Mechanics and Arctic Engineering

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    contributor authorE. M. Bitner-Gregersen
    contributor authorJ. Lereim
    contributor authorI. Monnier
    contributor authorR. Skjong
    date accessioned2017-05-08T23:39:16Z
    date available2017-05-08T23:39:16Z
    date copyrightAugust, 1992
    date issued1992
    identifier issn0892-7219
    identifier otherJMOEEX-28083#165_1.pdf
    identifier urihttp://yetl.yabesh.ir/yetl/handle/yetl/110693
    description abstractA quantitative analysis of economic risk associated with large investments in offshore oil and gas field development and production is presented. The analysis is intended as a supporting tool in decision-making faced with uncertainty and risk, to study the effect of alternative decisions in an easy manner. The descriptors for the project assessment, such as the Internal Rate of Return (IRR) and Net Present Value (NPV) are applied. The study demonstrates first the impacts of early pilot production (EPP) prior to a main oil field development on the field economy of an oil field development and production installation. Furthermore, the result of cases which reflect relevant situations connected with cost overruns are presented, as well as derivation of rational decision criteria for termination/continuation of a project subjected to cost overruns. Finally, an oil field development project scheduling is demonstrated.
    publisherThe American Society of Mechanical Engineers (ASME)
    titleEconomic Risk Analysis of Offshore Projects
    typeJournal Paper
    journal volume114
    journal issue3
    journal titleJournal of Offshore Mechanics and Arctic Engineering
    identifier doi10.1115/1.2919968
    journal fristpage165
    journal lastpage174
    identifier eissn1528-896X
    keywordsOcean engineering
    keywordsRisk analysis
    keywordsOil fields
    keywordsUncertainty
    keywordsNatural gas fields
    keywordsDecision making AND Economics
    treeJournal of Offshore Mechanics and Arctic Engineering:;1992:;volume( 114 ):;issue: 003
    contenttypeFulltext
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