Integrated oil exploration decision systems

The fully integrated, analytical decision system can be developed for petroleum exploration. Such a system would use conditional probability estimates of wildcat drilling success, based on biologic variables. These probabilities can be combined with financial analyses to produce Assessments of optimum exploration strategies.This paper was presented at Symposium 116.3, Quantitative Strategy for Exploration, held as part of the 25th International Geological Congress, Sydney, Australia, August 1976.