Improving operational decisions and allocating financial risk or reward in an engineered system
A system is provided to improve the operational decisions and the transfer of financial risk (or reward) in an engineered system, e.g. oil-well drilling. An interactive decision-support planning tool 100 aids a user as to how select a portfolio of engineered systems and entities that the systems wil...
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| creator | CHRISTOPHER DONALD JOHNSON OLADIMEJI BASSIR ONUR OLKIN DULGEROGLU BROCK ESTEL OSBORN JENS ALKEMPER |
| description | A system is provided to improve the operational decisions and the transfer of financial risk (or reward) in an engineered system, e.g. oil-well drilling. An interactive decision-support planning tool 100 aids a user as to how select a portfolio of engineered systems and entities that the systems will process (e.g. aircraft engines and flights, rigs and reserves, apparatus configuration, apparatus inspection, apparatus online sensors, dynamic operations decisioning for the apparatus and drill path or asset dispatching) and a contractual incentive to allocate risks to stakeholders best positioned to abate them. Tool 100 comprises a simulator 102, for performing simulations of well drilling, and aims to reduce a fleet's financial risk associated with the cost of operations below that achievable without using the tool and/or increase financial return associated with the cost of activity above that achievable without using the tool, such that financial risk and/or financial return and allocated in a desired manner among a plurality of operations stakeholders. |
| format | Patent |
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Tool 100 comprises a simulator 102, for performing simulations of well drilling, and aims to reduce a fleet's financial risk associated with the cost of operations below that achievable without using the tool and/or increase financial return associated with the cost of activity above that achievable without using the tool, such that financial risk and/or financial return and allocated in a desired manner among a plurality of operations stakeholders.</description><language>eng</language><subject>CALCULATING ; COMPUTING ; COUNTING ; DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES ; EARTH DRILLING ; EARTH DRILLING, e.g. DEEP DRILLING ; FIXED CONSTRUCTIONS ; MINING ; OBTAINING OIL, GAS, WATER, SOLUBLE OR MELTABLE MATERIALS OR ASLURRY OF MINERALS FROM WELLS ; PHYSICS ; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR</subject><creationdate>2009</creationdate><oa>free_for_read</oa><woscitedreferencessubscribed>false</woscitedreferencessubscribed></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktohtml>$$Uhttps://worldwide.espacenet.com/publicationDetails/biblio?FT=D&date=20090401&DB=EPODOC&CC=GB&NR=2453219A$$EHTML$$P50$$Gepo$$Hfree_for_read</linktohtml><link.rule.ids>230,308,780,885,25564,76547</link.rule.ids><linktorsrc>$$Uhttps://worldwide.espacenet.com/publicationDetails/biblio?FT=D&date=20090401&DB=EPODOC&CC=GB&NR=2453219A$$EView_record_in_European_Patent_Office$$FView_record_in_$$GEuropean_Patent_Office$$Hfree_for_read</linktorsrc></links><search><creatorcontrib>CHRISTOPHER DONALD JOHNSON</creatorcontrib><creatorcontrib>OLADIMEJI BASSIR</creatorcontrib><creatorcontrib>ONUR OLKIN DULGEROGLU</creatorcontrib><creatorcontrib>BROCK ESTEL OSBORN</creatorcontrib><creatorcontrib>JENS ALKEMPER</creatorcontrib><title>Improving operational decisions and allocating financial risk or reward in an engineered system</title><description>A system is provided to improve the operational decisions and the transfer of financial risk (or reward) in an engineered system, e.g. oil-well drilling. 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| subjects | CALCULATING COMPUTING COUNTING DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES EARTH DRILLING EARTH DRILLING, e.g. DEEP DRILLING FIXED CONSTRUCTIONS MINING OBTAINING OIL, GAS, WATER, SOLUBLE OR MELTABLE MATERIALS OR ASLURRY OF MINERALS FROM WELLS PHYSICS SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR |
| title | Improving operational decisions and allocating financial risk or reward in an engineered system |
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