Gazpromneft NTC Ltd.,
Saint Petersburg, Russia,
Specialist of Department of Economics and Investment Management, Gazpromneft NTC Ltd.
Area of scientific interest: evaluation of investment efficiency.
|Article # 8_2012|
|12 p.||Kozlova M.A.|
|Analysis of the cash flow behavior of investment projects in the area of oil fields exploration and development depending on the discount rate|
|The issues of the Net Present Value behavior of the investment projects in the area of oil fields exploration and development depending on discount rate have been investigated. Two types of projects have been distinguished. The dependence diagram of the Net Present Value and discount rate has shown that lines of the first type projects have salient form, while the second type projects have concave one. The projects with negative and some positive cash flow are occurred among the first type projects; while among projects of second type both negative and positive cash flow appears.
Regularities of the Net Present Value different behavior are exposed. The results are useful for analysis and strategic planning of investment projects.
Key words: investment project, exploration, development, oil field, cash flow, net present value, discount rate.
|article citation||Kozlova M.A. Analiz povedeniya denezhnykh potokov investitsionnykh proektov razvedki i razrabotki neftyanykh mestorozhdeniy pri izmenenii stavki diskontirovaniya [Analysis of the cash flow behavior of investment projects in the area of oil fields exploration and development depending on the discount rate]. Neftegazovaya Geologiya. Teoriya I Praktika, 2012, vol. 7, no. 1, available at: http://www.ngtp.ru/rub/3/8_2012.pdf|
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