Abstract
The global upstream oil and gas industry is challenged with complex operational activities, increasing uncertainties, strict regulations and delicate environmental issues among many others. In particular, the ability to accurately forecast the cost of these factors is necessary for the future success and improvement of the upstream oil and gas operations. The study examined some cost models to analyse their ability to forecast cost in the upstream oil and gas sector. Using mixed method approach, scenario based planning model with statistics and probability was adopted as an effective way to forecast cost in the upstream oil and gas industry
| Original language | English |
|---|---|
| Title of host publication | WMG Research and Innovation Conference |
| Place of Publication | Coventry |
| Publisher | WMG Doctoral Research and Innovation Conference-University of Warwick |
| Pages | 8 |
| Number of pages | 1 |
| Volume | 1 |
| Edition | 1 |
| Publication status | Published - 12 Jul 2014 |
| Event | WMG Doctoral Research and Innovation Conference 2014 - Coventry, United Kingdom Duration: 10 Jul 2014 → 11 Jul 2014 |
Conference
| Conference | WMG Doctoral Research and Innovation Conference 2014 |
|---|---|
| Country | United Kingdom |
| City | Coventry |
| Period | 10/07/14 → 11/07/14 |
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Cite this
Gyasi, E. A., & Marshall, J. (2014). IMPROVING COST MODELLING IN THE UPSTREAM OIL AND GAS INDUSTRY. In WMG Research and Innovation Conference (1 ed., Vol. 1, pp. 8). Coventry: WMG Doctoral Research and Innovation Conference-University of Warwick.