... to keep in mind is that an assessment is intended to help an organization and its employees maximize effectiveness or ‘get better’, not place blame for existing process inefficiencies. A digital energy project should focus on employee needs as well as corporate goals and objectives. Assessments area way...

... Maximizing reservoir contact and placing the well in a high-quality reservoir are means objectives believed to contribute to the objective of maximizing future production. The means objective of avoiding reservoir exit not only contributes to production but also eliminate additional cost due...

.... For example, if the company objective is operating earnings growth, then revenue sources and expenses should be captured for each opportunity as applicable. Simple stochastic descriptions : Rather than describing each opportunity in a fully probabilistic sense (ranges on all uncertain variables...

... Abstract The process of portfolio optimization provides guidance to decision makers on how to manage an asset base given corporate objectives, market conditions, and organizational capability. Many applications in the oil and gas industry are based upon Markowitz’s efficient portfolio theory...

... desire workflows and tools that integrate reservoir engineering and optimization principles in a fast-solving model that can be used to explore the full range of the uncertain inputs. This need is acute in the screening and concept selection stage where the primary objective is to determine...

... as functional managers’, goals and performance evaluations must align with project business objectives or individuals will focus on their internal department objectives. Step 6 – Remove Work Process Barriers Our initiative is like a seed planted in a thistle patch. If we don’t clear the surrounding...

... on the company objectives. The third application explains the use of portfolio optimization to manage and drive the company strategy. Using these methods, management could manage acquisitions and divestures in a proactive way, set realistic goals and objectives. As a result, management gain more control...

... & Gas correlation objective lognormal distribution business simulation software asset and portfolio management unconventional resource economics exposure iteration full field development probabilistic approach evaluation spreadsheet society of petroleum engineers complex reservoir spe...

.... The BSC process merges "management by objectives" with the "system dynamics" modeling approach. System dynamics offers the best process for enterprise modeling, yet this link is generally missing from BSC implementations. The stochastic company model is also the means for optimizing the asset and project...

... are thoroughly explored. asset and portfolio management strategic planning and management performance reporting architecture objective software server management forecast requirement operator communication portfolio optimization performance objective application spe 95164 upstream oil...

... stochastic descriptions provide adequate representations of the projects for portfolio modeling, particularly when multiple objectives and large numbers of projects are being evaluated. The model developed is based on actual economic cases, representing a wide variety of typical E&P investment...

... capex complexity spe 82005 portfolio optimization investor upstream oil & gas return metric asset and portfolio management objective d&ra expenditure annual technical conference risk management budget constraint reserves evaluation deviation figure 1 artificial intelligence...

... in OPEC oil production ceiling allocations from 1982-2001 The empirical analysis presupposes that a corporate decision framework guides OPEC production ceiling allocations subject to individual member characteristics and objectives. On average, and with a highly significant confidence interval...

... and to provide the maximization of the revenues with the lowest risks. For this specific optimization problem, reservoir simulation is the most appropriate tool to generate accurate reservoir performance predictions that are used for the evaluation of the objective-function defined for each field development...

...? student spe 68586 investment texas tobin asset and portfolio management society of petroleum engineers economic well objective educational standard education standard cultural change energy education upstream oil & gas project economics educational program energy industry project...

... regions. The second step is associated with the development of the technology for the next years and the expectation of the decision-maker when such technology will be available to the market. Based upon these estimated values, we can now calculate the expected utility values for the objectives (NPV...

... are twofold. Firstly, it provides the facility to expand the sub-division of project maturity, in order to classify projects on the basis of the work required (reflecting business decisions and budgeting) to move them towards commercial production and revenue. This ensures a continuous focus on the objectives...

... and business disciplines that impact the investment decision. The process enables a team to intensively collaborate for two to three weeks in one room to meet a common objective. They work in parallel, and produce several shared earth models, multiple reservoir simulations, numerous surface facility...

... of deliverability enhancement activities, and hence optimize them, are currently unavailable. This paper presents two new methods that begin to address the unique economic evaluation requirements of gas storage well deliverability enhancement. The first method is for application when the objective is to minimize...

... of "alliance contracting" with the contractors for design, fabrication and installation of the facilities and for the development drilling. monan objective upstream oil & gas installation society of petroleum engineers contractor ownership strategic planning and management marginal field...