The Study Of Liaohe Oilfield Exploration And Development Investment Effect Evaluation

After forty years of exploration and development, Liaohe oilfield has made remarkableachievements. There’s ten million tons of production scale now. However, as an old oilfield,the degree of recovery for Liaohe Oilfield has been so high. The natural decline rate andoverall decline rate for the vast majority of the main block has been rising. So it is necessaryto make a comprehensive evaluation for Liaohe Oilfield exploration and developmentinvestment effect. Find the law and the lack of exploration and development investment. Thenprovide guidance and advice for future investment decisions.In this paper, combine the exploration and development investment evaluation of thestatus of domestic and foreign oil companies, summarize the relevant theoretical and practicalexperience in the investment evaluation of oil companies abroad. Constructed a set ofevaluation index system in line with the exploration and development investmentcharacteristics and representative by extensive analysis of the relevant data of Liaohe Oilfield.The index system including economic indicators, resource indicators, technical indicators,social indicators as well as ecological indicators. Including sixteen specific indicators, just asper unit of production profit, new geological reserves, production overall decline rate, wildcatsuccess rate, oil production levels of average single well, disposable income, environmentalpollution, and so on. In this paper, we use the relative comparison method to determine theindex weight. And fuzzy comprehensive evaluation method to conduct a comprehensiveevaluation of Liaohe Oilfield exploration and development investment effect in2008-2012.Based on the evaluation results, we make some relevant countermeasures through carefulanalysis law of the Liaohe Oilfield exploration and development investment. Thesecountermeasures including reduce exploration and development costs, raise awareness ofecological protection, develop the techniques to optimize level wells completion,implementation of oilfield secondary development, improve the success rate of explorationwells, and so on.