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A holistic approach to assessment of value of information (VOI) with fuzzy data and decision criteria. (2020)
Journal Article
VILELA, M., OLUYEMI, G. and PETROVSKI, A. 2020. A holistic approach to assessment of value of information (VOI) with fuzzy data and decision criteria. Decision making: applications in management and engineering [online], 3(2), pages 97-118. Available from: https://doi.org/10.31181/dmame2003097v

Classical decision and value of information theories have been applied in the oil and gas industry from the 1960s with partial success. In this research, we identify that the classical theory of value of information has weaknesses related with optima... Read More about A holistic approach to assessment of value of information (VOI) with fuzzy data and decision criteria..

Sensitivity analysis applied to fuzzy inference on the value of information in the oil and gas industry. (2020)
Journal Article
VILELA, M., OLUYEMI, G. and PETROVSKI, A. 2020. Sensitivity analysis applied to fuzzy inference on the value of information in the oil and gas industry. International journal of applied decision sciences [online], 13(3), pages 344-362. Available from: https://doi.org/10.1504/IJADS.2020.10026404

Value of information is a widely accepted methodology for evaluating the need to acquire new data in the oil and gas industry. In the conventional approach to estimating the value of information, the outcomes of a project assessment relate to the dec... Read More about Sensitivity analysis applied to fuzzy inference on the value of information in the oil and gas industry..

Fuzzy logic applied to value of information assessment in oil and gas projects. (2019)
Journal Article
VILELA, M., OLUYEMI, G. and PETROVSKI, A. 2019. Fuzzy logic applied to value of information assessment in oil and gas projects. Petroleum science [online], 16(5), pages 1208-1220. Available from: https://doi.org/10.1007/s12182-019-0348-0

The concept of value of information (VOI) has been widely used in the oil industry when making decisions on the acquisition of new data sets for the development and operation of oil fields. The classical approach to VOI assumes that the outcome of th... Read More about Fuzzy logic applied to value of information assessment in oil and gas projects..

A fuzzy inference system applied to value of information assessment for oil and gas industry. (2019)
Journal Article
VILELA, M., OLUYEMI, G. and PETROVSKI, A. 2019. A fuzzy inference system applied to value of information assessment for oil and gas industry. Decision making: applications in management and engineering [online], 2(2), pages 1-18. Available from: https:// doi.org/10.31181/dmame1902001v

Value of information is a widely accepted methodology for evaluating the need to acquire new data in the oil and gas industry. In the conventional approach to estimating the value of information, the outcomes of a project assessment relate to the dec... Read More about A fuzzy inference system applied to value of information assessment for oil and gas industry..

Ranking of geostatistical models and uncertainty quantification using signal detection principle (SDP). (2018)
Journal Article
ANI, M., OLUYEMI, G., PETROVSKI, A. and REZAEI-GOMARI, S. 2019. Ranking of geostatistical models and uncertainty quantification using signal detection principle (SDP). Journal of petroleum science and engineering [online], 174, pages 833-843. Available from: https://doi.org/10.1016/j.petrol.2018.11.024

The selection of an optimal model from a set of multiple realizations for dynamic reservoir modelling and production forecasts has been a persistent issue for reservoir modelers and decision makers. Current evidence has shown that many presumably goo... Read More about Ranking of geostatistical models and uncertainty quantification using signal detection principle (SDP)..