Determining of Well Drilling Sequence for Investment Analysis using Monte Carlo Simulation in Upstream Oil and Gas Company in East Kalimantan, Indonesia
Journal Title: International Journal of Current Science Research and Review - Year 2024, Vol 7, Issue 06
Abstract
Electrical construction company that experienced in making Well Head Control Panels (WHCP) has difficulties to decide acceptance of investment in WHCP contracts raised with their client in upstream oil and gas company. The difficulty mostly due to uncertainty of client well drilling sequence. The electrical construction company need to financial investment analysis includes material purchasing, shipping, fabrication and delivery of WHCPs need to be done to make sure they make a profit. It is crucial for electrical construction company used correct forecasting method to determine schedule of client’s request. Monte carlo forecasting method is used to predict the well drilling sequence. The well drilling sequence data for 12 months is used to determine 24 months well drilling sequence operation with result 179 wells with normal distribution and 167 wells with triangular distribution.
Authors and Affiliations
Yona Vidya Prestiwi,
Keywords
Related Articles
- EP ID EP736626
- DOI 10.47191/ijcsrr/V7-i6-23
- Views 42
- Downloads 0
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