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Developing a Framework for Determining the Optimal Portfolio of Oil and Gas Industry Capital Projects in Conditions of Uncertainty
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Amin Habibirad *   1, Ali Panahi2 , Esmaeil Mazroui Nasrabadi3 |
1- , Shahed University , ahabibirad@yahoo.com
2- , Shahed University
3- Kashan University |
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Abstract: (1660 Views) |
| project portfolio management is a framework for integrated management of projects to achieve strategic goals of companies, considering the constraints. Its significance is more apparent in uncertain conditions that prevails in Iran's oil and gas industries, which confronts with capital constraints, sanctions, and economics fluctuations. The itroduced framework in this research encompasses the identification and definition of various scenarios for each oil and gas field, determination of mathematical model parameters, necessary data for calculating the model parameters, and the process and methods for their identification. Ultimately, it leads to the development of a mathematical model, which is the distinctive aspect of this study. The research, in terms of objective, is an application with a modeling and mathematical simulation approach, to providing a model for selecting an optimal portfolio of investment projects for upstream oil and gas companies under uncertainty conditions. After collecting the required data, the mathematical programming model was designed as an integer zero-one programming model with an objective function to maximize the net present value of different field scenarios, considering investment constraints and other binding constraints. The coding of the above model was executed and the intended simulation for uncertain parameters was performed using the CRYSTALL BALL software. |
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| Keywords: portfolio management, simulation, uncertainty, oil and gas industry, integer zero and one planning. |
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Full-Text [PDF 1781 kb]
(257 Downloads)
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Type of Study: Research |
Subject:
مدل هاي نفت و گاز
Received: 2023/08/28 | Accepted: 2023/12/31 | Published: 2023/12/31 | ePublished: 2023/12/31
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