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- This paper describes a model of economic evaluation in offshore field development incorporating uncertainty and risk analysis. Calculating of economic criteria and risk is illustrated by an example by using computer programs based on traditional and probabilistic analysis methods. Treatments of its parameters are also discussed. Conservative results will be obtained if correlative parametric variables are treated linearly. The probability distributions of parameters can be taken as triangular distribution, with the results very similar to the normal distribution.
- This paper describes a model of economic evaluation in offshore field development incorporating uncertainty and risk analysis. Calculating of economic criteria and risk is illustrated by an example by using computer programs based on traditional and probabilistic analysis methods. Treatments of its parameters are also discussed. Conservative results will be obtained if correlative parametric variables are treated linearly. The probability distributions of parameters can be taken as triangular distribution, with the results very similar to the normal distribution.