The Portfolio Optimization Model of Exploration Objects and it's Application

China Petroleum Exploration ›› 2005, Vol. 10 ›› Issue (2): 53-57,65.

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The Portfolio Optimization Model of Exploration Objects and it's Application

Guo Qiulin,Mi Shiyun,Xie Hongbing and Hou Chunwang

Guo Qiulin1,2, Mi Shiyun2, Xie Hongbing2, Hou Chunwang3//1 Institute of Geology and Geophysics,Chinese Academy of Sciences, Beijing 100029;2 PetroChina Exploration & Development Research Institute, Beijing 100083; 3 College of Information and Control Engineering, University of Petroleum (East China),Dongying City Shandong Province 257061

Online:2005-04-15 Published:2005-04-15

Abstract

Abstract: With the internationalization of investment of petroleum exploration and development, there are increasing investment opportunities and investment risks. Therefore, portfolio management and portfolio optimization technology are playing more and more important role. This paper introducesmodern portfolio theory to portfolio optimization and portfoliomanagement of petroleum exploration objects. It briefly introduces the basic ideas and principles of modern portfolio mathematicalmodel, discusses the portfolio model that suits for petroleum exploration and development projects of China, and expatiates the solution algorithm of this mathematical model. Lastly, thismodel was applied in portfolio management of actual exploration object in Daqing Exploration Area. A optimization investment decision was provided, and the validity of themodel and the feasibility of the method were also proved

CLC Number:

F426.22

Guo Qiulin, Mi Shiyun, Xie Hongbing and Hou Chunwang. The Portfolio Optimization Model of Exploration Objects and it's Application[J]. China Petroleum Exploration, 2005, 10(2): 53-57,65.

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