Research and application of a comprehensive evaluation index system for overseas prospects

doi:10.3969/j.issn.1672-7703.2020.04.002

Abstract

Abstract:

Since the second half of 2014, the international oil price has been hovering at a low level. In these circumstances, the primary issues faced by oil companies are how to make exploration deployment plans under conditions of variable oil prices, and how to achieve benefit exploration. Based on investigation of the comprehensive evaluation methods of prospects at home and abroad, combined with the practices of the overseas oil and gas exploration of CNPC, a comprehensive evaluation and ranking method has been proposed for exploration prospects based on geological risk, economic value, resource exploitability, and strategic factors affecting the prospects. Eleven indices of these four aspects have been weighted for quantitative evaluation. Based on the establishment of a comprehensive evaluation index, a three-step evaluation procedure is proposed: candidate collection, preliminary screening, and comprehensive ranking. This approach supports multi-prospect ranking and deployment optimization under a variety of oil prices. Since 2016, CNPC overseas oil and gas exploration has applied this evaluation index system and procedures to carry out two rounds of comprehensive ranking and deployment optimization for global prospects every year, and to put forward differentiated deployment plans. The application effect has been remarkable, showing that the evaluation index system is of considerable value in promoting effective exploration.

CLC Number:

Li Zhi, Ji Zhifeng, Li Fuheng, Yang Zi, Ma Hong, Wang Lin. Research and application of a comprehensive evaluation index system for overseas prospects[J]. China Petroleum Exploration, 2020, 25(4): 11-21.

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