About This Item
Share This Item
The business environment, within which the oil exploration business will be forced to operate during the 1980s, will require exploration management to evaluate their investment opportunities in light of economic conditions and in conjunction with their companies' business strategies. To do so will require techniques and methods to analyze future field sizes, risks, and potential rewards. Proposed methods will allow construction of a series of portfolios of future investment opportunities that will permit a selective process for resource allocation for exploration. Various exploration strategies can then be tested by computer modeling to ascertain the exploration strategies that will be compatible with their companies' business planning and strategies.
Although the planning concept was designed primarily for the oil exploration business, methods, techniques, and concepts can be carried over to other energy mineral exploration.
In this present environment it is also necessary that explorationists understand how their efforts may be integrated into the total exploration program so they will not expend unnecessary time on prospects that will not fit into their companies' overall strategies.
End_of_Article - Last_Page 946------------