Decision Making in the Upstream Oil and Gas Industry

An Intensive 5-Day Online Training Course

Decision Making in the Upstream Oil and Gas Industry

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

Scheduled Dates

18 - 22 Dec 2023 Online $3,950
Enroll Now View Classroom Format In-House Options

Are the scheduled dates matching with your needs?

We provide a wider range of training options. Tailored and customized, we can deliver your organization’s training needs anytime, anywhere.

Why Choose this Training Course?

Why Choose this Online training Course?

Participants on this online 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 online 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?

What are the Goals?

By the end of this online 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?

Who is this Online training Course for?

The online 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 online 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?

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.

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 online training course, a PetroKnowledge 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

Visit Website ›

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

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

Download PDF

© 2023. 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.

Sending your message. Please wait...


There was a problem sending your message. Please try again.

Please complete all the fields in the form and check the recaptcha before sending.