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This study aims to systematically compare and analyze the core differences in economic evaluation methods for oil and gas field development projects between domestic and international contexts, with a focus on uncovering the inherent logical divergences in policy frameworks, fiscal and taxation systems, parameter systems, and risk quantification methodologies. The research scope encompasses economic evaluation practices in China's onshore/offshore oil and gas fields and overseas representative projects from 2015 to 2023, involving a multidimensional comparison of national energy strategic orientations and market-oriented evaluation paradigms. Through a literature analysis of core standards such as SPE-PRMS and SY/T 6171-2016, a three-dimensional analytical framework encompassing policies and regulations, fiscal and taxation systems, and key parameters is established using comparative research methods. Twelve typical case studies, including the Ordos tight gas and the South China Sea deepwater projects, are employed to validate theoretical differences, while Monte Carlo simulations are utilized to quantify the sensitivity of parameters such as discount rates and oil price assumptions. Dynamic modeling of fiscal and taxation clauses reveals the mechanisms behind IRR discrepancies between domestic and international contexts. The study identifies that institutional differences stem from the fundamental conflict between strategic security-oriented and market efficiency-oriented approaches. Recommendations include establishing dynamic parameter systems and promoting the integration of evaluation standards. The research innovatively constructs a multidimensional comparative framework incorporating policy frameworks, fiscal models, and risk premiums, quantitatively revealing the formation mechanisms of IRR deviations. The findings hold significant practical value for enhancing the accuracy of economic evaluations for overseas projects by Chinese enterprises and optimizing decision-making for domestic unconventional resource development.

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Comparative Review of Economic Evaluation Methods for Oil and Gas Field Development Projects: Chinese and International Perspectives

  • 章节

  • 发表日期：

    2026年

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  • Peng Xu,
  • Xiao-yun Wang,
  • Xu-dong Wang,
  • Li-jian Li,
  • Wen-yong Zuo,
  • Xue-feng Chai,
  • Jin-jie Liu,
  • Kai Yang,
  • Jun Wang

摘要

This study aims to systematically compare and analyze the core differences in economic evaluation methods for oil and gas field development projects between domestic and international contexts, with a focus on uncovering the inherent logical divergences in policy frameworks, fiscal and taxation systems, parameter systems, and risk quantification methodologies. The research scope encompasses economic evaluation practices in China's onshore/offshore oil and gas fields and overseas representative projects from 2015 to 2023, involving a multidimensional comparison of national energy strategic orientations and market-oriented evaluation paradigms. Through a literature analysis of core standards such as SPE-PRMS and SY/T 6171-2016, a three-dimensional analytical framework encompassing policies and regulations, fiscal and taxation systems, and key parameters is established using comparative research methods. Twelve typical case studies, including the Ordos tight gas and the South China Sea deepwater projects, are employed to validate theoretical differences, while Monte Carlo simulations are utilized to quantify the sensitivity of parameters such as discount rates and oil price assumptions. Dynamic modeling of fiscal and taxation clauses reveals the mechanisms behind IRR discrepancies between domestic and international contexts. The study identifies that institutional differences stem from the fundamental conflict between strategic security-oriented and market efficiency-oriented approaches. Recommendations include establishing dynamic parameter systems and promoting the integration of evaluation standards. The research innovatively constructs a multidimensional comparative framework incorporating policy frameworks, fiscal models, and risk premiums, quantitatively revealing the formation mechanisms of IRR deviations. The findings hold significant practical value for enhancing the accuracy of economic evaluations for overseas projects by Chinese enterprises and optimizing decision-making for domestic unconventional resource development.