Estimating informational content in geophysical observations on example of searching economic minerals in Azerbaijan

The application of geophysical methods to searching useful minerals is usually limited by physical, geological, economic and time considerations. The presence of numerous kinds of noise means that in many cases the anomalous targets (ore bodies, hydrocarbon pools, etc.) and surrounding media are best approached as probabilistic objects, such that the amount of information potentially available from different geophysical methods can be estimated by probabilistic and statistical methods, including the risks associated with this decision making. Here it is shown that simple informational and probabilistic criteria can be applied to formalize the information that can be obtained by applying different geophysical methods. To assess the relative value of geophysical methods, information, cost and time factors are convoluted to generate integrated parameters. Calculation of some information parameters in the regional scale in the South Caspian Basin, and in the local areas: Bulla Deniz gas deposit (offshore Azerbaijan), and Gyzyl-Bulakh gold-pyrite deposit (Lesser Caucasus, western Azerbaijan) shows an effectiveness of this methodology.