The value of sequential prospect selection
نویسندگان
چکیده
We present new instruments for solving the "best site selection" problem in a sequential setting, and we propose a comparison with classical non-sequential methods based on the Value of Information. The main motivation is selection of drilling sites in an oil and gas field, when there are several correlated prospects. We discuss the properties and the methods required for designing our optimal sequential program, and we present results on two case studies. Spatial statistics models are used to encode the geological spatial dependence among the sites.
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