Risk and decision making analyses and applications to the petroleum exploration — A certain PSC area

Risk is a critical factor that an investor must take into account, regardless of where money is invested. Before making important decisions in petroleum exploration, it is standard practice to calculate the expected monetary value for each given prospect. Because of the large uncertainty inherent in...

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Bibliographic Details
Published in:Natural resources research (New York, N.Y.) N.Y.), 1997-12, Vol.6 (4), p.281-284
Main Authors: Zhang, Mingyin, Fu, Xiaokang, He, Shibin
Format: Article
Language:English
Subjects:
Decision analysis
Decision making
Mathematical analysis
Oil and gas exploration
Oil exploration
Petroleum
Citations: Items that this one cites
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Summary:Risk is a critical factor that an investor must take into account, regardless of where money is invested. Before making important decisions in petroleum exploration, it is standard practice to calculate the expected monetary value for each given prospect. Because of the large uncertainty inherent in decisions that involve large sums of money, the investor needs to exercise prudence. This paper describes an application of calculating the expected monetary value in a mature producing area in the Malacca Strait PSC Contract Area, Indonesia.
ISSN:0961-1444
1520-7439
1573-8981
DOI:10.1007/BF02765926