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Title:
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Facility planning and value of information : a case study of deepwater reservoir compartmentalization |
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Author:
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Ramachandran, Hariharan, 1986- |
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Abstract:
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This thesis investigates how estimates of reservoir compartmentalization impact facility sizing decisions and the degree to which inaccurate estimates destroy project value . An uncertainty analysis workflow is proposed and an asset development optimization model is specified to simulate the decision making process during concept selection . The model endogenizes drilling decisions and includes a real option to expand facility capacity after the uncertain variables are realized . The value of information analysis suggests that cost of erroneous estimates of reservoir compartmentalization is significant and can reduce asset value by more than 30 % . We also find that the negative impacts are larger when the degree of compartmentalization is underestimated (too optimistic ) than when it is overestimated (too pessimistic ) . |
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URI:
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http : / /hdl .handle .net /2152 /ETD -UT -2010 -08 -1988
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Date:
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2011-01-03 |