02086nmc a2200325 4500 20260520005658.0 260224s xxu CD W938 1 0013960 WPC (16th.) Value assessment of oil reserves under gas and water injection techniques 12/09/06 ; 26/08/2003 10 p. Resumen del autor, extraído del trabajo. This paper analyzes the managerial flexibility embedded in oil and gas exploration and production. The analyses include the economic impact of different techniques on the valuation of oill reserves. Two methodologies are used to evaluate the simulation of engineering techniques: (i) real options approach; and (ii) discount cash flow method. Given the exogenous variables (e.g. oil price, interest rate), this paper evaluates the best engineering technique for oil recovery by using a valuation approach. We conclude that by appropriately combining different production techniques, the value of oil reserves can increase according to real option approach, higher than the value assessed under the discounted cash flow method. Since oil recovery includes many managerial options, we argue that real option approach is more appropriate than DCF. The paper concludes that concession time and dividend yield are the most sensitive parameters for valuation of oil reserves. v. 5, p. 135 CONGTP Saito, Richard 10194 Castro, Guilherme N. de 10195 Pedroso Júnior, Carlos 10196 Schiozer, Denis J. 10197 Petrobras 547 Universidade Estadual de Campinas 5689 World Petroleum Congress (16th. : 2000 jun. 11-15 : Calgary, Alberta, Canada) 34 Castro, Guilherme N. de 10195 Pedroso Júnior, Carlos 10196 Schiozer, Denis J. 10197 Petrobras 547 Universidade Estadual de Campinas 5689 Saito, Richard 10194 133697 133697 0 0 0 0 204616 BAAB BAAB CD W938 1 0013960 2026-03-04 200006218 0 CD W938 1 0013960 200006218 2026-03-04 14:03:38 2026-03-04 ARCHIVO