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What is Oracle Crystal Ball

Chapter 8
Recent Applications of Financial Risk Modelling and Portfolio Management
Application used for the risk measurement that is based mainly on the Monte Carlo simulation approach.
Published in Chapter:
Quantifying Economic Uncertainties and Risks in the Oil and Gas Industry
Sorin Alexandru Gheorghiu (Kuwait Oil Company, Ahmadi, Kuwait) and Cătălin Popescu (Petroleum-Gas University of Ploiesti, Romania)
Copyright: © 2021 |Pages: 31
DOI: 10.4018/978-1-7998-5083-0.ch008
Abstract
The present economic model is intended to provide an example of how to take into consideration risks and uncertainties in the case of a field that is developed with water injection. The risks and uncertainties are related, on one hand to field operations (drilling time, delays due to drilling problems, rig failures and materials supply, electric submersible pump [ESP] installations failures with the consequences of losing the well), and on the other hand, the second set of uncertainties are related to costs (operational expenditures-OPEX and capital expenditures-CAPEX, daily drilling rig costs), prices (oil, gas, separation, and water injection preparation), production profiles, and discount factor. All the calculations are probabilistic. The authors are intending to provide a comprehensive solution for assessing the business performance of an oil field development.
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