Prioritization oil and gas capital projects using Multi Criteria Decision Making (MCDM) models

The extent,complexity and diversity of oil and gas industry projects,especially in the upstream sector, have doubled the importance of prioritizing these projects in order to achieve the desired goals. In this research,based on the statistics and information related to upstream oil capital projects and the indicators and criteria that reflect the importance of oil capital sector projects,they have been prioritized. Based on the experiences of oil and energy experts and connoisseur,as well as quantitative calculations of the desired indicators based on the available information,20suitable criteria and indicators for prioritizing74capital projects of the upstream oil sector under the5main oil and gas production companies,approved by the Plan and Budget Organization,It has been identified and using the methods and patterns of simultaneous use of indicators and criteria, through MCDM method,the desired projects have been prioritized.The model used in this applied research is a multi criteria decision making model or models for problem solving.Indexing for oil capital projects and the formation of the decision matrix of the projects based on the indicators, converting qualitative indicators into quantitative,normalization of the indicators, evaluating the weights of the indicators and finally reaching the appropriate decision model for prioritizing the projects have been used in this research.