4. Petroleum Project Parameters Sensitivity analysis examines the effect of changes in any one of these parameters on the economic evaluation of a project. Sensitivity Analysis for Changing Variables Week 6 Parameter Field Estimate Recoverable Reserves 160 mbo Field Life 20 years Oil Price $60 Total CAPEX $500m OPEX per bbl $5
5.
6. Independent and Control Variables In this sensitivity analysis, oil price is the independent variable and all other parameters are control variables. Sensitivity Analysis for Changing Variables Week 6 Parameter Field Estimate Sensitivity Analysis Recoverable Reserves 160 mbo Control Field Life 20 years Control Oil Price $60 Independent Total CAPEX $500m Control OPEX per bbl $5 Control