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Management of Oil Field Development

In: Dynamic Systems Modeling and Optimal Control

Author

Listed:
  • Dipak Basu

    (Nagasaki University)

  • Victoria Miroshnik

Abstract

In view of the recent international developments in the Middle East there is a revival of interest in the effect of oil prices on the supply, extraction and discovery process of the oil fields (Guseo, Dalla Valle, & Guidolin, 2007; Owen, Inderwildi, & King, 2010; Rehrl & Friedrich, 2006). Although recent literatures have incorporated both economic and engineering approaches, we have not seen any major analysis regarding future discoveries of oil fields and their estimation methods. The purpose of this chapter is to incorporate economic, geological and engineering information in the analysis of forecasting future discoveries of oil fields, for the specific case of the continental shelf of the UK’s North Sea.

Suggested Citation

  • Dipak Basu & Victoria Miroshnik, 2015. "Management of Oil Field Development," Palgrave Macmillan Books, in: Dynamic Systems Modeling and Optimal Control, chapter 3, pages 54-65, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-50895-9_3
    DOI: 10.1057/9781137508959_3
    as

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