Energy Technology Data Exchange (ETDEWEB)

This article describes a methodology to determine the best strategy in an open bid, where oil and gas fields are the targets for exploration. Based upon the previous bid rounds for a given specific area - the Campos Basin, for that matter -, the data were statistically treated to fit a probability density function, modelling the value of bids offered by the competing companies. By means of techniques and concepts pertaining to Game Theory a balance matrix was built for values of bids made by companies as a function of the company alone in assumed bid rounds. At the end of each british auction, participants of this simultaneous game, using the rationality principle, aimed at winning the tender on the oil field aimed for, through the use of better answers with respect to its rival competitor. The game goal was maximize return on investment purchase in the decisions of lease blocks purchases in the auctions, or to try minimize its opponents gains. Proceeding with the work, this time, ...