| | JPT (Sep 2003): Forecasting Development of Heavy-Oil Reserves in Ultradeep Waters (Site not responding. Last check: 2007-11-06) |
 | | The second characteristic is a roughly modified exponential curve (or logistic) can be used to describe the overall technological progress in the selected capability, including the extraordinary breakthroughs that have occurred in deepwater technologies during the last decade. |
 | | in which u(x) is the logistic utility function for technology, a and b are constants, c is the technological risk-aversion coefficient, x is the variable of interest (e.g., capital-expense reduction), and e is the exponential constant. |
 | | It is important to emphasize that the adjustment of the initial points on the S-curve for each logistic curve was made on the basis of consultation with specialists operating in deep water, because historical records of oil gravity and viscosity were not readily available. |
| www.spe.org /spe/jpt/jsp/jptpapersynopsis/0,2439,1104_11038_1434505_1434577,00.html (1577 words) |