Theoretical Substantiation of Risk Assessment Directions in the Development of Fields with Hard-to-Recover Hydrocarbon Reserves

This article presents a methodology for risk assessment and management in the development of hard-to-recover hydrocarbon reserves. The proposed methodology integrates Monte Carlo simulation and fuzzy logic methods, which allows for the consideration of both quantitative stochastic risks (e.g., fluctuations in oil prices, variability in costs, and production volumes) and qualitative uncertainties (e.g., environmental, social, and technological risks) that are traditionally difficult to formalize. The approach facilitates the incorporation of uncertainties associated with complex field developments and aims to improve managerial decisions through comprehensive risk assessment. The article elaborates on the theoretical aspects of the proposed methodology, including risk identification stages, the formalization of qualitative data using fuzzy logic, and the application of the Monte Carlo method for integrating various risk categories. The results confirm the potential of this methodology as a tool to enhance the resilience and economic efficiency of projects involving the development of hard-to-recover hydrocarbon reserves.

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Publication Details

Journal
Resources
Published
2025-04-11
DOI
https://doi.org/10.3390/resources14040064
Citations
10
Primary Topic
Reservoir Engineering and Simulation Methods
Type
article
Field-Weighted Citation Impact
11.45
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article

Theoretical Substantiation of Risk Assessment Directions in the Development of Fields with Hard-to-Recover Hydrocarbon Reserves

Т. В. Семенова, I. P. Sokolov
10 citations
Resources
Reservoir Engineering and Simulation Methods
11.45
article

Theoretical Substantiation of Risk Assessment Directions in the Development of Fields with Hard-to-Recover Hydrocarbon Reserves

Т. В. Семенова, I. P. Sokolov
article en
10 citations

Abstract

This article presents a methodology for risk assessment and management in the development of hard-to-recover hydrocarbon reserves. The proposed methodology integrates Monte Carlo simulation and fuzzy logic methods, which allows for the consideration of both quantitative stochastic risks (e.g., fluctuations in oil prices, variability in costs, and production volumes) and qualitative uncertainties (e.g., environmental, social, and technological risks) that are traditionally difficult to formalize. The approach facilitates the incorporation of uncertainties associated with complex field developments and aims to improve managerial decisions through comprehensive risk assessment. The article elaborates on the theoretical aspects of the proposed methodology, including risk identification stages, the formalization of qualitative data using fuzzy logic, and the application of the Monte Carlo method for integrating various risk categories. The results confirm the potential of this methodology as a tool to enhance the resilience and economic efficiency of projects involving the development of hard-to-recover hydrocarbon reserves.

ResourcesVol. 14(4)
Saint Petersburg Mining University (RU)
Openalex Percentile: Top 1%
Reservoir Engineering and Simulation Methods
11.45
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Theoretical Substantiation of Risk Assessment Directions in the Development of Fields with Hard-to-Recover Hydrocarbon Reserves — Т. В. Семенова, I. P. Sokolov · Resources (2025) | TGRS Research Map | TGRS