Oil spill cleanup cost estimation—Developing a mathematical model for marine environment

Journal article, 2008

Abstract: The field of oil spill cost modelling is not as well explored as desirable. Generally speaking, the existing models have either low accuracy, in that their predictions are far from the real cost, or low applicability, in that they are only valid under very specific conditions; such as in one particular country. This work strives to construct a model that is functional in a global scope and still possess a high level of accuracy. The resulting attempt is in manyways superior to the publicly available competitors, not only because of its predictive capacity but also because the model is quick to use, and its input variables should be readily available to any informed user. The model is more accurate comparing with similar available models. However, further study is needed to modify it to obtain more realistic results. © 2008 The Institution of Chemical Engineers. Published by Elsevier B.V. All rights reserved.