This paper intends to present a contribution to the development of techniques of decision-making in international projects of exploration and production of petroleum. A case study of the Multi-Attribute Utility Theory (MAUT) was developed and applied to define priorities among ten offshore exploration investment opportunities around the world offered to a Brazilian petroleum multinational company, according to decision-makers’ preferences. The MAUT model proposed shows for the first time a combination of operational, political and technological risks, resulting in a quite complete formulation to describe quantitatively the decision-making process. It is important to emphasize that this paper presents an unpublished model to evaluate [...]
