Applying probabilistic and qualitative methods to asset-management decision making

G S Simpson, F E Lamb, J H Finch, N C Dinnie

Research output: Contribution to journalArticle

Abstract

Interview data from decision makers in most of the operating companies active in the U.K. North Sea show the current industry capability in decision analysis. The extent to which each company uses the techniques that comprise current capability provides a ranked List representing the relative level of sophistication in decision analysis. A strong positive correlation was found that indicates a considerable incentive for companies to upgrade their decision-analysis capability.

Original languageEnglish
Pages (from-to)49-50
Number of pages2
JournalJournal of Petroleum Technology
Volume52
Publication statusPublished - 2000

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