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1、CHAPTER1DECISIONMAKING1.1DecisionMakingProcess1.2InteractionAmongVariousSteps1.3EconomicTerminology1.1DecisionMakingProcessEconomicdecisionsgohandinhandwithtechnicaldecisionsinthepetroleumindustry.Eachdecisionisassociatedwithseveralsteps.Inmostinstanc
2、es,weneedtounderstandthesestepsbeforewecandeterminethefeasibilityofaproject.Startingfromwhethertoexplore（勘探）foroilandgas,theeconomicdecisionsbecomeanintegralpartoftheproject.Thefirstdecisionmaybewhethertosignanagreementtoacquireaconcession（让步）onalease
3、（租约）.Anassociateddecisionwouldbehowmuchofasigningbonus(签字定金)needstobepaid.Also,whattypesofadditionalcommitments(义务)suchasworkprogramsandfuturedrillingactivitiesaremade.Inthenextstep,ifaconcessionisacquired,oneneedstodecideifadditionalgeological（地质学的）o
4、rgeophysical（地球物理学的）dataneedstobegatheredbeforedrillingawell.Ifsufficientdataareavailable,whereshouldthefirstwellbedrilled.Ifthewellissuccessful,Weneedtodecideifthehydrocarbonreservesareinsufficienteconomicquantitiestojustifyadditionaldrillingandexplo
5、itation（开采）.Afterfindinghydrocarbonsandknowingthattheycanbeproducedineconomicquantities,wefirstneedtodecidewhethertodeveloporselltoanotherparty.Ifwedecidetodevelop,weneedtoconsiderthedecisionsduringtheproductionphase..Startingfromthetypeofdrillingtech
6、niqueweneedtouse,weneedtomakedecisionsassociatedwiththewellcompletiontechniques（完井技术),surfaceseparationequipment,thepiping(管道）andtubing（油管）requirementsandtherateofproduction.Thesefactorsarefurthercompoundedbythechangingeconomicsofoilandgaspricesoverwh
7、ichtheproducermaynothaveanycontrol.Theeconomicdecisionscontinuethroughouttheproducinglifeoftheproject.Oncetheproductionbeginssmoothly,wewillhavetoworryaboutthepossibilitiesofsecondary（二次）andtertiary（三次)oilrecoverytechniques,drillingofin-fillwells(加密井）
8、,andtheimplementationofartificiallifttechniques..Nottomention,theproductionscenario(方案)canbesignificantlyaffectedbychanginggovernmentregulationseitherrelatedtoproductionquotas（配额）ortotheenvironmentalandpoliticalconcerns.Duringthesametime,knowi
