The Technological And Economic Assessment Of Classification On The Remaining Recoverable Reserves

Aim to improve the investment efficiency for developing remaining recoverable reserves,a classified technical and economic evaluation system was built up. Through analyzing impact factors of the remaining recoverable reserves, based on the understanding of dynamic factors, Multi-grade Grey Comprehensive Evaluation methods was applied to chose the index system for remaining recoverable reserves classification, which was used to classify the recoverable reserves. Based on the incremental present value index model for economic evaluation, an evaluation index system was set up including three categories and two levels. The main research results obtained are as follows.Among all the impact factors of the remaining recoverable reserves such as geological, development, and economic policy factors, the dynamic factors are mainly considered. Multi-grade Grey Comprehensive Evaluation methods was employed to chose the technical index reflecting reserve development situation, distribution and appreciate potential as criteria to classify remaining recoverable reserves, together with element analysis and technique charts methods, the remaining recoverable reserve was classified into three categories.Through analyzing the application conditions and practical effect of the main economic evaluation and appraisal methods, Net Current Value and Implied Reward Rate methods are believed to have many shortcomings. Net Current Value, a sort of relative quantity index, is able to eliminate investment size’s enlarge effect on evaluation result, but prone to affect by different discount rate choice. Considering the development of remaining recoverable reserves is such a process of incremental amount driving stock, the inflation rate is used to amend present value of future cash flows to create the incremental present value index model for technical and economic evaluation, which as proven effective by the practical application to resolve those shortcoming mentioned above existing in the Net Current Value method. The incremental present value is able to reflect investment efficiency.The development technical index, as first level of evaluation index system, and increment present value (IIPV) and development risk coefficient (βcoefficient), as secondary factor, was applied to determine three categories of technical and economic evaluation index system for remaining recoverable reserves, which was applied to Shanian oilfield. The result shows that incremental present value index more than 1.1 in the first class of block in the Shanian Oilfield, risk coefficient less than 0.5; while incremental present value index less than less than 1.0, risk coefficient more than 0.7 for the third class of block, which make it hard to profit-making. The index in the secondary class of block is between first and third class.Technical and economic classification evaluation method of remaining recoverable reserve can well reflect its dynamic characteristics and development process, which make the evaluation process more substantial and its result more objective, which effectively overcome the investment’s influence on the evaluation result, able to reflect investment efficiency, namely, obtaining more investment reward with limited capitals.