Sankhya: The Indian Journal of Statistics

1997, Volume 59, Series B, Pt. 3, 288-312

STOCHASTIC MODELLING AND FORECASTING OF DISCOVERY, RESERVE AND PRODUCTION OF HYDROCARBON - WITH AN APPLICATION

By

J. K. GHOSH, P. MAITI, A. C. MUKHOPADHYAY

and

M. PAL, Indian Statistical Institute, Calcutta

SUMMARY. The primary objective of this paper is to present some results in connection with forecasting of discovery and production of hydrocarbon in a partially explored basin. The focus in this article will be on stochastic modeling for the purpose of discovery, based on the idea of subjective probability or super population. The results of a particular basin in India have been presented here.

 AMS (1991) subject classification. 62P99

Key words and phrases. Stochastic, modeling, forecasting, empirical Bayes method, hydrocarbon

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