Robust Exploration and Production Sharing Agreements Using the Taguchi Method
نویسندگان
چکیده
The short- and long-term volatility of oil gas prices has a wide-ranging impact on both parties petroleum contractual agreements, thus affecting the profitability project at any stage. Therefore, government (first party) international company (second set parameters their contracts in way that reduces uncertainty. effect price fluctuations economic indicators is investigated this paper. Taguchi method used for first time to find best-agreement parameters, which are “A” “B” factors, standard Libyan agreement. There four components from “A1” “A4”, “B1” “B4”. purpose reduce variability response variables, take (the percent net cash flow company) average value second-party share production (ASPS). noise factors considered paper oil, liquefied hydrocarbon byproduct (LHP), prices. was applied case study field development Libya. results showed “A3” “A4” were most important control affect ASPS, while “B2” “B3” take. To obtain robust results, also determined. NPV may be worth more than USD 22 MM 1-billion-barrel oilfield study. that, given combination with certain take, mean absolute deviation (MAD) second party reduced by 18% if optimal combinations levels used.
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ژورنال
عنوان ژورنال: Energies
سال: 2022
ISSN: ['1996-1073']
DOI: https://doi.org/10.3390/en15155424