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An Evaluation Model of the Recoverable Reserves at Risk for Exploration and Development Projects of International Petroleum

Keywords: International , model , petroleum , recoverable reserves at risk , risk

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Abstract:

In this study, we propose an evaluation model of the recoverable reserves at risk for exploration and development projects of international petroleum. Due to the greater risk of the Exploration and Development Projects of International Petroleum (EDPIP) and defects of traditional methods, the study introduced the ideas of “at risk” into the evaluated methods of recoverable reserves of oil and gas and explored the Recoverable Reserves at Risk (RRsaR) of petroleum for the EDPIP. The model can effectively deal with the dilemma of traditional methods and make the evaluated results combined with the risk. And it can present the petroleum recoverable reserves under the conditions of different risk (namely different probabilities) for the investors.

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