Journal of Petroleum Technology, Vol.52, No.12, 49-50, 2000
Applying probabilistic and qualitative methods to asset-management decision making
Interview data from decision makers in most of the operating companies active in the U.K. North Sea show the current industry capability in decision analysis. The extent to which each company uses the techniques that comprise current capability provides a ranked List representing the relative level of sophistication in decision analysis. A strong positive correlation was found that indicates a considerable incentive for companies to upgrade their decision-analysis capability.