DocumentCode
2574067
Title
Forecasting economic oilyield by using Monte Carlo Simulation
Author
Dong, Shaohua ; Li, Fangfang
Author_Institution
Sch. of Mech. Eng., Univ. of Sci. & Technol. Beijing, Beijing, China
fYear
2011
fDate
27-29 June 2011
Firstpage
1283
Lastpage
1285
Abstract
Through analyzing the factor affected oil production in the oil development stage, the economic output calculation model of oilfield development is built according to the principle of the balance between profit and loss. Finally the results are solved by the Monte Carlo Simulation.
Keywords
Monte Carlo methods; economic forecasting; petroleum industry; profitability; Monte Carlo simulation; economic forecasting; economic output calculation model; oil development stage; oil production; profit; Analytical models; Banking; Economics; Educational institutions; Electronic publishing; Mechanical engineering; Monte Carlo methods; Economic Oilyield; Monte carlo simulation;
fLanguage
English
Publisher
ieee
Conference_Titel
Computer Science and Service System (CSSS), 2011 International Conference on
Conference_Location
Nanjing
Print_ISBN
978-1-4244-9762-1
Type
conf
DOI
10.1109/CSSS.2011.5972139
Filename
5972139
Link To Document