M.A. Ofurhie, M.C. Amaechi, A.O. Idowu Nigerian National Petroleum Corp. Lagos The allocation of funds among investment possibilities must of necessity include evaluation and ranking of alternatives. An essential prerequisite is a geophysical/geological evaluation followed by a reservoir/production analysis resulting in the prediction of recoverable reserves, reservoir performance, optimum method of development, and initial offtake return. An economic model of a typical Niger delta medium cost field with reserves of about 100 million bbl of oil under the royalty/tax system reveals that it is difficult to develop such a fiel...

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