الفهرس | Only 14 pages are availabe for public view |
Abstract Current harsh economic conditions, scarcity of natural resources and high market competition causes the emphasis on performing at higher efficiency rates. Recently, the petroleum industry suffers from risk variability in petroleum project investment decisions due to improved technology, the demand of efficiency and changes in its organizational structure. High financial returns may be realized from oil and gas projects as a result of the high degree of risk due to high investment levels over a long period of time and high-tech resources. Thus, a multiple criteria decision making process is required in order to maximize or minimize the outcomes of each objective. The capital allocation process and related decisions have a critical impact in final performance. A feasibility study is a tool for investigating the viability of the prospective projects. It is conducted on the very first stages of project development, to reveal whether or not the project is viable from all aspects. A well-designed feasibility study should provide a historical background of the business or project, a description of the product or service, details of the operations and management, marketing research and policies, financial data, legal requirements and tax obligations. Feasibility studies should address issues from which are: Analysis of the budget, assessment of any site information including geotechnical studies, assessment of any contamination, availability of services, uses of adjoining land, planning issues, environmental impact assessment, legal approvals, assessing operational and maintenance issues and procurement options |