Decision analysis for the exploration of gas reserves: Merging TODIM and THOR

Abstract

This article approaches the problem of selecting the non-dominated alternative for the destination of the natural gas reserves in the Mexilhão field in the Santos Basin, Brazil. Major aims of the case study reported here were to create a mechanism for assisting in the process of analyzing and selecting the best options for the destination of natural gas, and to enable the decision agent to choose the investment options best aligned to the expectations and objectives observed in the company strategies. The decision analysis employed in the study made use of the TODIM method and the THOR multicriteria decision support system. The application of both demonstrated that a decision analytic framework can be extremely useful when recommending options for upstream projects, owing to the fact that it can clearly identify the most important alternatives in the face of the scenarios tested and in relation to the criteria expressed.