How Multiple Scenario Modeling Helps in Development Decisions Under Uncertainty
Updated: Dec 6, 2020
Multiple scenario modeling help make decisions under uncertainty in capital projects .
A scenario is defined as a unique combination of one subsurface geologic realization and one development concept.
Geologic realization cover a wide range of subsurface uncertainties
Development options cover wide range of development decisons
Wide range of scenarios are evaluated in the Assess phase of stage-gated process
Commercially viable scenarios (NPV>0) are evaluated in detail in Select Phase