Petroknowledge

An Interactive 3 - Day Online Training Course

Economics of Oil and Gas Production

Leveraging Decision-Making Under Uncertainty

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Code Date Time Fee($)
OL144 21 - 23 Dec 2020 11:00 to 16:00 Dubai [GMT +4] 1,750
OL144 09 - 11 Aug 2021 11:00 to 16:00 Dubai [GMT +4] 1,750
OL144 20 - 22 Dec 2021 11:00 to 16:00 Dubai [GMT +4] 1,750

*All fees are exclusive of VAT


Why Choose this Online Training Course? 

Can you predict the oil price today, tomorrow, or next year? Uncertainty and risk are inherent in the hydrocarbon industry, thus evaluating and quantifying uncertainties and risks associated with a course of action is a vital step in the petroleum business. This is especially critical as oil and gas production is capital-intensive with high operating costs, and the decisions made today last for decades with long-lived assets.

This PetroKnowledge online training course highlights economic and uncertainty analysis as applied to oil and gas projects to facilitate informed decision-making and foster long-term business resilience for complex systems and projects. Applications for screening and evaluation are studied in detail.

This PetroKnowledge online training course will highlight:


Training Objectives

What are the Goals?

At the end of this PetroKnowledge online training course, you will learn to:

  • Facilitate high-quality decisions under uncertainty
  • Recognize the sources of uncertainty in the hydrocarbon business
  • Apply effective modeling frameworks for quantitative analysis
  • Develop data to knowledge to action resiliency
  • Compare alternatives from operational performance and economical perspectives

Target Audience

Who is this Online Training Course for? 

This PetroKnowledge online training course is highly recommended for a wide range of professionals in management, planning, operations, and engineering disciplines. It is specially of great value to: 

  • Business and Government Leaders
  • Energy Professionals
  • Professionals working in the field of Economy, Finance, Business Administration and Investment
  • Petroleum Engineering Disciplines
  • Geoscientists
  • Regulatory, Security and Political Authorities
  • Merger & Acquisition
  • Project Management

Training Methods

How will this Online Training Course be Presented? 

This online training course will utilize a variety of proven online learning techniques to ensure maximum understanding, comprehension, retention of the information presented. The training course is conducted Online via an Advanced Virtual Learning Platform in the comfort of any location of your choice.

Organisational Impact

Decision made in the oil and gas industry last for decades. For this reason, multi-agent decision-making frameworks are the need of the hour. This PetroKnowledge online training course will guide participants to evaluate complex economic options and construct decision trees to streamline high-quality decision processes across the organization.

Personal Impact

Participants in this PetroKnowledge online training course, through lectures, presentations, and cases, will develop critical skills to become more effective members and leaders of oil and gas project assessment and deployment. Training participants will practice a variety of relevant techniques, including Monte Carlo simulation, decision tree framework and Bayesian thinking.

Through exercises and case studies, participants will appreciate the value of reliable modeling to enable long-term business resilience.

Daily Agenda

Day One: Economic Principles 

  • Motivation
  • Economic Concepts
  • Economic Definitions
  • Cash Flow Analysis
  • Time Value of Money

Day Two: Hydrocarbon Resources Economic Evaluation 

  • Petroleum Resources Management
  • Screening and Evaluation of Oil & Gas Projects
  • Data-Driven Modeling
  • Reservoir Performance
  • Unconventional Resources

Day Three: Decision and Uncertainty Analysis  

  • Sources of Uncertainty
  • Sensitivity Analysis
  • Monte Carlo Simulation
  • Bayesian Thinking
  • Decision Analysis and Framework

Certificates

  • On successful completion of this online training course, PetroKnowledge E-Certificate will be awarded to the delegates

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Home » Courses » International Petroleum Business » Economics of Oil and Gas Production
PetroKnowledge Training


Economics of Oil and Gas Production
Leveraging Decision-Making Under Uncertainty


Code Date Venue Fees
OL144 21 - 23 Dec 2020 N/A $1,750
OL144 09 - 11 Aug 2021 N/A $1,750
OL144 20 - 22 Dec 2021 N/A $1,750



Why Choose this Online Training Course? 

Can you predict the oil price today, tomorrow, or next year? Uncertainty and risk are inherent in the hydrocarbon industry, thus evaluating and quantifying uncertainties and risks associated with a course of action is a vital step in the petroleum business. This is especially critical as oil and gas production is capital-intensive with high operating costs, and the decisions made today last for decades with long-lived assets.

This PetroKnowledge online training course highlights economic and uncertainty analysis as applied to oil and gas projects to facilitate informed decision-making and foster long-term business resilience for complex systems and projects. Applications for screening and evaluation are studied in detail.

This PetroKnowledge online training course will highlight:


Training Objectives

What are the Goals?

At the end of this PetroKnowledge online training course, you will learn to:

Target Audience

Who is this Online Training Course for? 

This PetroKnowledge online training course is highly recommended for a wide range of professionals in management, planning, operations, and engineering disciplines. It is specially of great value to: 

Training Methods

How will this Online Training Course be Presented? 

This online training course will utilize a variety of proven online learning techniques to ensure maximum understanding, comprehension, retention of the information presented. The training course is conducted Online via an Advanced Virtual Learning Platform in the comfort of any location of your choice.

Organisational Impact

Decision made in the oil and gas industry last for decades. For this reason, multi-agent decision-making frameworks are the need of the hour. This PetroKnowledge online training course will guide participants to evaluate complex economic options and construct decision trees to streamline high-quality decision processes across the organization.

Personal Impact

Participants in this PetroKnowledge online training course, through lectures, presentations, and cases, will develop critical skills to become more effective members and leaders of oil and gas project assessment and deployment. Training participants will practice a variety of relevant techniques, including Monte Carlo simulation, decision tree framework and Bayesian thinking.

Through exercises and case studies, participants will appreciate the value of reliable modeling to enable long-term business resilience.

Daily Agenda

Day One: Economic Principles 

Day Two: Hydrocarbon Resources Economic Evaluation 

Day Three: Decision and Uncertainty Analysis  

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© 2020. Material published by Petroknowledge shown here is copyrighted.

All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing (in any medium), transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.


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© 2020. Material published by Petroknowledge shown here is copyrighted.

All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing (in any medium), transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.


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