Data and Decision Analysis in Petroleum Industry

An Intensive 3-Day Online Training Course

Data and Decision Analysis in Petroleum Industry

We currently have no scheduled session for this Course. If you are interested in running this course, please contact our Training Department at info@petroknowledge.com

Why Choose this Training Course?

Why Choose this Online Training Course? 

The petroleum industry must constantly face new challenges. Oil and gas companies should create value with uncertain prices, technical and environmental obstacles, and increasingly hard-to-find resources in a complex global trade system.  In this PetroKnowledge online training course, we discuss the art and science of decision making in modern petroleum organizations with an emphasis on methods, data analytics, and human aspects. The training course covers applications from oil and gas exploration and production to midstream and downstream projects.

For an effective learning experiences, we use Microsoft Excel, and to some extent, Spreadsheet simulation software.

This PetroKnowledge Online Training course will highlight:

  • The value chain in petroleum industry and their data analysis needs
  • decision making processes and tools
  • Human biases in decision making
  • The role of information, statistics, and modern analytics in decision making
  • Applications in exploration, development, production, and transportation of petroleum

What are the Goals?

What are the Goals? 

We aim to enhance participants’ understanding of decision making by focusing on data, methods, and behavioral aspects. We explore the role of intuitive versus analytical reasoning in decision-making. We will also discuss how sound approaches to decision-making can influence sustained development and innovation in the petroleum business.

At the end of this PetroKnowledge Online Training course, you will:

  • Understand the importance of good decision making in petroleum business
  • Understand the relationship between data, uncertainty, and the concept of risk
  • Gain skills in effective formulation of analytics
  • Understand the human biases and their effect on decisions
  • Learn about industry best practice and their real-world implementations

Who is this Training Course for?

Who is this Online Training Course for? 

This PetroKnowledge online training course is useful for analysts, engineers, and managers involved in the data gathering, processing, interpretations, and supporting decisions. In short, all of us.

This PetroKnowledge online course is suitable to a wide range of professionals but will greatly benefit: 

  • Technical staff interested in data and decision analysis
  • Executives interested in gaining in-depth knowledge of analysis and how they support decisions
  • Practitioners that work with data
  • Researchers and practitioners who aim to broaden their knowledge of analytics and decision making

How will this Training Course be Presented?

How will this Online Training Course be Presented?

This PetroKnowledge 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 your choice location.

Organisational Impact

Improving analysis and decision-making skills creates value for organizations. In essence, the only function of any organization is making business decisions. This PetroKnowledge online training course prepares individuals for the challenges of real world-decisions, from highly uncertain, data-scarce situations to information-rich environments. This PetroKnowledge online course trains individuals that:

  • Increase the capabilities of organizations by generating insights from data
  • Possess knowledge and skills of dealing with uncertainty
  • Open doors to value creating opportunities

Personal Impact

In general, more informed analysis leads to more informed decision making. The set of skills that this course offers prepares individuals for a more effective role within the organization. This PetroKnowledge online training course:

  • Prepares individuals for a role with wider perspective
  • Gives participants a more informed frame of mind
  • Supports their existing knowledge and skillset by improving their analytical capabilities
  • Enables participants to analyze complex decisions and generate insights
  • Promotes personal skills in valuation and effective decision making

Daily Agenda

Day One: Introduction to Good Decision Making 

  • Decision analysis
  • Good decisions vs. good outcomes
  • Information for effective decision making
  • Introduction to data, statistics, and modern analytic methods
  • Uncertainties: using probability to encode uncertainty

Day Two: Effective Tools and Methods  

  • Analytic tool: decision trees
  • Analytic tool: statistical inference
  • Analytic tool: regression analysis
  • Using spreadsheets to solve real world oil and gas problems
  • Practical aspects of data and decision analysis

Day Three: Advance Topics 

  • An introduction to optimization
  • Linear Programming: Case Study, what is the best generator choice?
  • Integer programming: Knapsack problem
  • Bayesian analytics
  • Value of Information: Case study, what is the value of seismic information?

Certificate

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

Frequently Asked Questions

How can I register for a training course?

  • To register online through our website, please click “Enroll Now” on the course page, complete and submit the form. A confirmation e-mail and instructions will be sent to the participant’s e-mail.
  • You may also get in touch with our Registration Team on
    +971 56 222 7795 | +971 2 557 7389 or send an email to reg@petroknowledge.com

When and how do I arrange payments?

  • Payments can be made in USD or UAE local currency AED (Arab Emirates Dirhams) either by Bank Transfer or by Credit Card. Our Bank Account details will be provided on the invoice.
  • Course fees are payable upon booking unless a valid, authorized Purchase Order is provided and accepted.
  • Invoices will be sent via email/courier to the ID/name and address provided.
  • The course fee shall be settled prior to course start date. Corporate payments with existing payment policy shall be relayed to us in advance.

When should I expect to receive confirmation of registration?

Upon successful registration online, enrolment on the respective training course will be confirmed by Registration Team by e-mail along with the invoice and joining instruction.

Is there a discount for more than one registrant/course?

For corporate fees and group registration, please send your query to info@petroknowledge.com.

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© 2022. 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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