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- W1999499259 abstract "Abstract Value-of-Information analyses are a powerful tool for short- term rationalisation of data acquisition costs. But even more so the longer-term added value of proper VOI analyses lies in the process of constructing the analysis, and in the insight it gives into risk and opportunity management. A rigorous VOI analysis generally spans the full life cycle of E&P, and as such requires input from a multi-disciplinary team. A thorough scrutiny about where data adds value will lead to value optimisation and creation. In order to unlock this value, implementation of a rigorous and easy-to-use methodology is critical. Such an implementation has progressed in Woodside, and has already led to a shift in mindset. VOI analyses are less regarded as cumbersome and fuzzy, but more and more as an essential part of data acquisition and data analysis. As a result, sizeable reductions in well data acquisition costs have been achieved, and data acquisition and analysis has become more focused." @default.
- W1999499259 created "2016-06-24" @default.
- W1999499259 creator A5062642102 @default.
- W1999499259 date "2000-10-16" @default.
- W1999499259 modified "2023-10-18" @default.
- W1999499259 title "Value-of-Information - from Cost-Cutting to Value-Creation" @default.
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- W1999499259 doi "https://doi.org/10.2118/64390-ms" @default.
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