Aligning hydrocarbon investments with constantly shifting business goals and priorities is a major challenge for E&P staff.There are many factors that can contribute to project failure,resulting in large investments to improve the predictability,produeibil-ity,and quality of evaluations.While,techniques such as estimating,risk assessment,process management,deliverables management,and project management improve project execution,they do not address the critical issue of scheduling or that of achieving satisfactory cost performances.This study explored the strategic significance of modern portfolio theory and its applicability to various oil and gas investments.
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