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

dc.contributor.advisorJablonowski, Christopher J.en
dc.contributor.committeeMemberLasdon, Leon S.en
dc.creatorRamachandran, Hariharanen
dc.date.accessioned2011-01-03T19:48:44Zen
dc.date.available2011-01-03T19:48:44Zen
dc.date.available2011-01-03T19:48:49Zen
dc.date.issued2010-08en
dc.date.submittedAugust 2010en
dc.date.updated2011-01-03T19:48:50Zen
dc.descriptiontexten
dc.description.abstractThis 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).en
dc.description.departmentPetroleum and Geosystems Engineeringen
dc.format.mimetypeapplication/pdfen
dc.identifier.urihttp://hdl.handle.net/2152/ETD-UT-2010-08-1988en
dc.language.isoengen
dc.subjectValue of informationen
dc.subjectFacility planningen
dc.subjectReal optionsen
dc.subjectStochastic optimizationen
dc.subjectField development optimizationen
dc.titleFacility planning and value of information : a case study of deepwater reservoir compartmentalizationen
dc.type.genrethesisen
thesis.degree.departmentPetroleum and Geosystems Engineeringen
thesis.degree.disciplinePetroleum Engineeringen
thesis.degree.grantorUniversity of Texas at Austinen
thesis.degree.levelMastersen
thesis.degree.nameMaster of Science in Engineeringen
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