Intelligent Systems in Oil Field Development under Uncertainty

Alexandre Anozé Emerick (auth.), Marco A. C. Pacheco, Marley M. B. R. Vellasco (eds.)9783540929994, 3540929991, 9783540930006, 3540930000

Intelligent Systems use a range of methodologies for analysis, pre-processing, storage, organization, enhancing and mining of operational data, turning it into useful information and knowledge for decision makers in business enterprises. These intelligent technologies for decision support have been used with success by companies and organizations that are looking for competitive advantages whenever the issues on forecast, optimization, risks analysis, fraud detection, and decision under uncertainties are presented.

Intelligent Systems (IS) offer to managers and decision makers the best solutions for complex applications, normally considered difficult, very restrictive or even impossible. The use of such techniques leads to a revolutionary process which has a significant impact in the business management strategy, by providing on time, correct information, ready to use. Computational intelligence techniques, especially genetic algorithms, genetic programming, neural networks, fuzzy logic and neuro-fuzzy as well as modern finance theories, such as real options theory, are here presented and exemplified in oil and gas exploitation and production. This book is addressed to executives and students, directly involved or interested in intelligent management in different fields.

Table of contents :
Front Matter….Pages –
ANEPI: Economic Analysis of Oil Field Development Projects under Uncertainty….Pages 1-5
Real Options Theory….Pages 7-22
Decision Support Methods….Pages 23-96
Intelligent Optimization System for Selecting Alternatives for Oil Field Exploration by Means of Evolutionary Computation….Pages 97-137
Real Option Value Calculation by Monte Carlo Simulation and Approximation by Fuzzy Numbers and Genetic Algorithms….Pages 139-186
Analysis of Alternatives for Oil Field Development under Uncertainty….Pages 187-225
High-Performance Processing for E&P….Pages 227-239
Appendix A – Types of Uncertainty in Investment Projects….Pages 241-242
Appendix B – Variance Reduction Techniques….Pages 243-246
Appendix C – Stochastic Processes….Pages 247-253
Appendix D – Grant, Vora and Weeks Algorithm for Determining the Value of an American Option….Pages 255-259
Appendix E – Calculation of the Mean Value and Variance of Fuzzy Numbers….Pages 261-264
Appendix F – Real Options Valuation Methods….Pages 265-272
Appendix G – Analytical Model of the Expansion Option Problem….Pages 273-275
Appendix H – CORBA Architecture….Pages 277-285
Back Matter….Pages –