摘要
The definition and use of the terms risk and uncertainty vary widely in the oil and gas industry. Similarly, and partly as a consequence of this lack of consistency, the methods used for the evaluation of projects at the exploration, appraisal or development stages of maturity have also varied significantly. However, unless projects are evaluated in a consistent fashion, the application of portfolio analysis and optimisation techniques is impossible. Further, the use of such techniques in isolation may be inadequate to ensure that a portfolio aligns fully with an established corporate strategy. An essential stage in the process is therefore a consistent application of the terms risk and uncertainty. The SPE/WPC/AAPG resource classification system provides an ideal basis for this approach.