Research On Evaluation Method For Overseas Oil-Gas Field Development

Along with the deepening reform of economic system in the field of petroleum industry and the execution of "going abroad" strategy in oil industry, more and more overseas projects of oil and gas field development are operated by Chinese petroleum enterprises, which has extended the international influence of Chinese enterprises and caused a lot economic benefit, meanwhile new way to ensure the security of national energy was also searched. Even so, we have to realize clearly that it's just the beginning in China of the research on theory and method regarding to the economic and technical evaluation on oil and gas developing projects, especially on overseas ones, which are not able to provide scientific and reliable guidance to the economic evaluating practice of overseas oil and gas developing projects. It's the key for the government and petroleum enterprises how to improve the economic evaluation quality of oil and gas developing projects, especially of overseas ones in order to ensure the rewards of investment.On the basis of fully analyzing the background, meaning and effect of method research regarding to overseas oil and gas developing projects, combining with the features, principles and distinguishing & calculation of economic expenses and benefit, this article explicates the principle and range of estimate of investment, cost and espense, calculation of depreciation of fixed asset, the estimate of sale revenue, taxation and profit, which ensures a scientific and reliable source of basic data for economic evaluation method research of overseas oil and gas field developing project. A detailed introduction of economic and technical evaluating methods in common use was given in this article, and the advantage and disadvantage & limitation of each evaluating method was also analyzed. Combinning with recent practises abroad taken by Chinese enterprises, the economic evaluating methods that are suitable to overseas oil and gas field developing projects.By comparing and analyzing, Net Present Value (NPV), Net Present Value Rate (NPVR), Internal Rate of Return (IRR) should be adopted as the indexes of overseas oil and gas field developing projects as the result of this article. Meanwile, the characteristics of international risk cooperation and different style of international cooperation as well as the law and taxation policy of resourcing nations should also be considered in order to get a more scientific, reasonable and reliable evaluating result.