Table 2
Economic parameters and uncertainties (Gaspar et al., 2015).
| Description | Field units |
SI units |
||||||
|---|---|---|---|---|---|---|---|---|
| Units | Base | Optimistic | Pessimistic | Units | Base | Optimistic | Pessimistic | |
| Oil price | USD/bbl | 50 | 70 | 40 | USD/m3 | 314.5 | 440.3 | 251.6 |
| Discount rate | % | 9 | 9 | 9 | % | 9 | 9 | 9 |
| Royalties | % | 10 | 10 | 10 | % | 10 | 10 | 10 |
| Special taxes on gross revenue | % | 9.25 | 9.25 | 9.25 | % | 9.25 | 9.25 | 9.25 |
| Corporate taxes | % | 34 | 34 | 34 | % | 34 | 34 | 34 |
| Cost of oil production | USD/bbl | 10.0 | 13.0 | 8.0 | USD/m3 | 62.9 | 81.8 | 52.4 |
| Cost of water production | USD/bbl | 1.0 | 1.3 | 0.8 | USD/m3 | 6.3 | 8.2 | 5.3 |
| Cost of water injection | USD/bbl | 1.0 | 1.3 | 0.8 | USD/m3 | 6.3 | 8.2 | 5.3 |
| Abandonment cost (% well investment) | % | 7.4 | 9.2 | 6.5 | % | 7.4 | 9.2 | 6.5 |
| Drilling and completion of vertical well | USD Million | 61.2 | 76.5 | 54.0 | USD Million | 61.2 | 76.5 | 54.0 |
| Drilling and completion of horizontal well | USD Thousand/m | 21.7 | 27.3 | 19.0 | USD Thousand/m | 27.3 | 19.0 | 21.7 |
| Well-platform | USD Million | 13.3 | 16.7 | 11.7 | USD Million | 13.3 | 16.7 | 11.7 |
| Probability | 0.50 | 0.25 | 0.25 | 0.50 | 0.25 | 0.25 | ||