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The cost of trap exploration refers to all the expenses spent in the process of preparing for the trap to the complete exploration of oil and gas in the favorable play.

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The decision-making basis for the economic evaluation of trap exploration is not the Measured PIIP that can be obtained per unit of exploration cost.

The decision-making basis for the economic evaluation of trap exploration is the Measured PIIP that can be obtained per unit of exploration cost.

Generally, based on the independence of oil and gas exploration, exploit, and sales stages, the economic evaluation of traps is divided into three stages: economic evaluation of trap exploration, economic evaluation of trap development, and evaluation of trap cash benefits.

Trap economic evaluation is a prediction of the input and output of the trap under the existing economic and technological conditions.

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