Decision Process in Petroleum Upstream Investments

Assessment of potential petroleum exploration and development (E&D) and/or reserve acquisition projects is a crucial initial step for petroleum companies to ensure the success of their investments. The book provides an understanding of the relevant issues in petroleum industry US petroleum company's decision making processes and it identifies factors taken into consideration in evaluation and selection of petroleum upstream investments. The information was gathered through a combination of literature survey input from an expert panel and responses from decision-makers in U.S petroleum companies who are directly involved in the petroleum upstream investments. Two hundred and twenty-one high-level decision-makers representing 221 U.S. petroleum companies completed mail questionnaires concerning the decision processes in potential petroleum upstream investments employed by their firms. The result of the study established and described empirically the management view of the practices of assessing petroleum upstream investments at strategic level. It should interest people in petroleum industry as well as those who are interested in the petroleum industry.