A hybrid Monte Carlo simulation risk model for oil exploration projects

Egemen Ander Balas1

  • 1Başkent University, Faculty of Engineering, Department of Civil Engineering, Ankara, Turkey.

PubMed
Summary

A novel 3-D Hybrid Monte Carlo Simulation (MCS) model assesses oil spill risks, integrating environmental factors like tsunamis and climate change for offshore projects. This advanced model quantifies risks from blowouts, providing crucial data for exploration safety.

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