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Intelligent Systems in Oil Field Development under Uncertainty
Author: Marco A. C. Pacheco
Publisher: Springer
Published: 2009-01-30
Total Pages: 296
ISBN-13: 3540930000
DOWNLOAD EBOOK →The decision to invest in oil field development is an extremely complex problem, even in the absence of uncertainty, due to the great number of technological alternatives that may be used, to the dynamic complexity of oil reservoirs - which involves mul- phase flows (oil, gas and water) in porous media with phase change, and to the c- plicated combinatorial optimization problem of choosing the optimal oil well network, that is, choosing the number and types of wells (horizontal, vertical, directional, m- tilateral) required for draining oil from a field with a view to maximizing its economic value. This problem becomes even more difficult when technical uncertainty and e- nomic uncertainty are considered. The former are uncertainties regarding the existence, volume and quality of a reservoir and may encourage an investment in information before the field is developed, in order to reduce these uncertainties and thus optimize the heavy investments required for developing the reservoir. The economic or market uncertainties are associated with the general movements of the economy, such as oil prices, gas demand, exchange rates, etc. , and may lead decision-makers to defer - vestments and wait for better market conditions. Choosing the optimal investment moment under uncertainty is a complex problem which traditionally involves dynamic programming tools and other techniques that are used by the real options theory.
A Stochastic Control Framework for Real Options in Strategic Evaluation
Author: Alexander Vollert
Publisher: Springer Science & Business Media
Published: 2002-12-13
Total Pages: 286
ISBN-13: 9780817642587
DOWNLOAD EBOOK →The theoretical foundation for real options goes back to the mid 1980s and the development of a model that forms the basis for many current applications of real option theory. Over the last decade the theory has rapidly expanded and become enriched thanks to increasing research activity. Modern real option theory may be used for the valuation of entire companies as well as for particular investment projects in the presence of uncertainty. As such, the theory of real options can serve as a tool for more practically oriented decision making, providing management with strategies maximizing its capital market value. This book is devoted to examining a new framework for classifying real options from a management and a valuation perspective, giving the advantages and disadvantages of the real option approach. Impulse control theory and the theory of optimal stopping combined with methods of mathematical finance are used to construct arbitrarily complex real option models which can be solved numerically and which yield optimal capital market strategies and values. Various examples are given to demonstrate the potential of this framework. This work will benefit the financial community, companies, as well as academics in mathematical finance by providing an important extension of real option research from both a theoretical and practical point of view.
Africa's Mineral Fortune
Author: Saleem H. Ali
Publisher: Routledge
Published: 2018-08-20
Total Pages: 310
ISBN-13: 0429884591
DOWNLOAD EBOOK →For too long Africa's mineral fortune has been lamented as a resource curse that has led to conflict rather than development for much of the continent. Yet times are changing and the opportunities to bring technical expertise on modern mining alongside appropriate governance mechanisms for social development are becoming more accessible in Africa. This book synthesizes perspectives from multiple disciplines to address Africa’s development goals in relation to its mineral resources. The authors cover ways of addressing a range of policy challenges, environmental concerns, and public health impacts and also consider the role of globalization within the extractive industries. Academic research is coupled with key field vignettes from practitioners exemplifying case studies throughout. The book summarizes the challenges of natural resource governance, suggesting ways in which mining can be more effectively managed in Africa. By providing an analytical framework it highlights the essential intersection between natural and social sciences, central to efficient and effective harnessing of the potential for minerals and mining to be a contributor to positive development in Africa. It will be of interest to policy makers, industry professionals, and researchers in the extractive industries, as well as to the broader development community.
Mergers and Restructuring in the World Oil Industry
Multinational Finance Journal
Fossil Energy Update
The Linkage Between ISO 9000 and ISO 14000 Standards
The Stochastic Volatility of Short-term Interest Rates
Strategic Colonialism in Unfamiliar Cultures
