Facility planning and value of information : a case study of deepwater reservoir compartmentalization

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Title: Facility planning and value of information : a case study of deepwater reservoir compartmentalization
Author: Ramachandran, Hariharan, 1986-
Abstract: 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 ) .
URI: http : / /hdl .handle .net /2152 /ETD -UT -2010 -08 -1988
Date: 2011-01-03

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Facility planning and value of information : a case study of deepwater reservoir compartmentalization. Master's thesis, University of Texas at Austin. Available electronically from http : / /hdl .handle .net /2152 /ETD -UT -2010 -08 -1988 .

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