Economics of Oil and Gas Production

An Intensive 3-Day Online Training Course

Economics of Oil and Gas Production

Leveraging Decision-Making Under Uncertainty

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

Why Choose this Training Course?

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:

  • Decision & Risk Analysis for Oil & Gas
  • Economic Concepts in the Petroleum Industry
  • Modeling Uncertainty for Hydrocarbon Projects
  • Bayesian Thinking and Decision Tree Framework
  • Economic Evaluation of Unconventional Resources

What are the Goals?

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

Who is this Training Course for?

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

How will this Training Course be Presented?

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


  • 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 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

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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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