Decision Making in the Upstream Oil and Gas Industry

An Intensive 5-day Training Course

Decision Making in the Upstream Oil and Gas Industry

The Know-How in Creating High Quality Decisions in Complex Upstream Projects

Decision Making in the Upstream Oil and Gas Industry

Scheduled Dates


08 - 12 Jul 2024 Dubai - UAE $5,950 RESERVE A SEAT
14 - 18 Oct 2024 London - UK $5,950 RESERVE A SEAT
04 - 08 Nov 2024 Dubai - UAE $5,950 RESERVE A SEAT
16 - 20 Dec 2024 Dubai - UAE $5,950 RESERVE A SEAT
06 - 10 Jan 2025 Kigali - Rwanda $5,950 RESERVE A SEAT

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Why Choose this Training Course?

Participants on this training course will gain a good understanding of how management functions and project teams within oil and gas companies collaborate to make good (high quality) decisions.

The Decision Making in the Oil & Gas industry course highlights the contributions of the wide range of scientific, technical, commercial and business disciplines that contribute to making complex decisions, involving very large investments, while dealing with large amounts of uncertainty.

The training course is designed to equip early- and mid-career professionals, from all disciplines, for working within integrated, multi-disciplinary teams on international development projects, and for future oil business leadership roles.

What are the Goals?

By the end of this training course, participants will:

  • Understand how critical decisions, involving large numbers of variables, and large amounts of uncertainty, are made by multi-disciplinary teams within international oil and gas companies
  • Have practical skills and work tools that will be of direct use to them in their future project work
  • Understand the background to the industry, and the underlying science of oil and gas formation
  • Recognise the importance of effective early planning decisions (concept selection and ‘front-end loading’) in delivering successful projects

Who is this Training Course for?

The training course is relevant to early and mid-career professionals, from all backgrounds, who wish to prepare for working with or within oil company project teams or strategic management functions, and for future business leadership roles.

This training course is particularly suitable for oil and gas professionals who want to:

  • Prepare for greater involvement and leadership roles in field development, strategic management and decision making
  • Equip themselves for working within close-knit, value-focused, multi-disciplinary, fully-integrated asset development teams working on complex, large-scale projects
  • Gain an understanding of the very broad scope of field development engineering, and the complexity and challenges of facilities engineering on mega projects

How will this Training Course be Presented?

This PetroKnowledge course is both practical and theoretical, and is delivered by means of:

  • Interactive presentations and tutorials
  • Team and individual workshop exercises
  • Onscreen worked examples
  • Videos and posters
  • Debates and discussions
  • Guided self‐study and research
  • Quizzes
  • Case studies

While performing the workshop exercises, participants will gain experience in the use of online (cloud) team collaboration information tools and strategies that are becoming key to professional development in this era of fast-evolving technology, fast-track projects, online collaboration, joint decision making, and ‘information overload’.

Daily Agenda

Day One: Overview and Context to Decision Making in the Upstream Sector
  • The industry context to decision making.  The upstream oil and gas industry from various key ‘perspectives’, such as the oil and gas asset lifecycle, the value chain, the industry players, and the place in society.
  • The professional context to decision making.  Overview of the fundamental geoscience and engineering disciplines, which form the basis upon which decisions are made, including geophysics, petrophysics, reservoir engineering, well engineering and facilities engineering.
  • Decision making in the upstream oil and gas industry. Overview of the science, culture, practice and challenges of decision making in the upstream oil and gas sector, including dealing with incomplete information and uncertainty.
Day Two: Decision Making, Field Development Planning and Economics
  • Multi-scenario field development planning as basis for decision making. How the integrated, team, drawn from all disciplines (commercial, scientific and engineering) collaborate to identify the candidate development scenarios, which become the input to the decision making process.
  • Petroleum economics for decision making. The role of petroleum economics in the analysis of oil and gas development scenarios, in order to identify the most profitable, and the one with the best fit to the company business, including the use of cash flow analysis, time value of money and investment indicators.
  • Decision making workshop.  Participants work individually, or in teams, on realistic field development planning, economics and decision making exercises.
Day Three: Decision Analysis and Portfolio Management
  • Decision Analysis. How the integrated field development team make complex decisions, involving many different types of input parameters, in order to ensure that very large investments are made rationally and efficiently, using tools such as expected value, sensitivity analysis, decision trees and Monte Carlo simulation.
  • Portfolio Management. Advanced economics and decision making methodologies, originating in the financial (stocks and shares) industry, increasingly finding application for the strategic management of portfolios of oil and gas assets, including: Portfolio Theory; Options Theory and Preference (Utility) Theory.
  • Decision Making Workshop.  Participants work individually, or in teams, on realistic field development planning, economics and decision making exercises.
Day Four: Types of Production Contract and their Relevance to Decision Making
  • Production contracts & licences.  The legal, fiscal and contractual conditions under which an oil company acquires the right to produce oil or gas, and the way that the revenue and wealth is shared with the host country.
  • Petroleum resources management. How quantities of oil and gas in the reservoir (reserves and resources) are calculated, classified and reported in a consistent manner for management, regulatory and investment and purposes.
  • Decision making workshop.  Participants work individually, or in teams, on realistic field development planning, economics and decision making exercises.
Day Five: How Safety and Environmental issues impact Decision Making
  • Corporate responsibility.  How oil and gas projects are executed in a safe and sustainable manner, with due respect for the environment, and it a way that benefits the local communities in which activities take place, covering topics such as: safety, environmental impact and social licence to operate.
  • Decision making workshop.  Participants work individually, or in teams, on realistic field development planning, economics and decision making exercises.


  • On successful completion of this Training Course / Online Training Course, a PetroKnowledge Certificate / E-Certificate will be awarded to the delegates.

In Association With

GLOMACS Training

Our collaboration with GLOMACS aims to provide the best training services and benefits for our valued clients

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Frequently Asked Questions

  • 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 50 981 7386 | +971 2 557 7389 or send an email to

  • 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.

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.

For corporate fees and group registration, please send your query to

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