Economic Analysis: Theory and Practice

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Economic Analysis: Theory and Practice

13(178) - 2010 May

Risk minimization model of mature oil fields development

Vol. 9, Iss. 13, MAY 2010

Available online: 27 April 2010

Subject Heading: ECONOMIC AND MATHEMATICAL SIMULATION

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Ramazanov D.N. post-graduate student the department for the economy and control in the enterprises of the petroleum and natural gas industry, Ufa State Petroleum Technical University
ramazanov_damir@inbox.ru

This approach is required for successful further development of mature oil fields under existing constraints and acceptable level of risk. It is developed by author new economic efficiency criteria of prognosticated enhanced oil recovery projects under risks. It is formed bicriterion stochastic discrete optimization model of enhanced oil recovery with decision maker’s acceptable level of risk. It’s applied developed model for conditions West-Siberian oil-production company.

Keywords: enhanced oil recovery methods, expected monetary value, halfdispertion, Markovitz-Tobin’s modern portfolio theory

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ISSN 2311-8725 (Online)
ISSN 2073-039X (Print)

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