An Intensive 5-Day Online Training Course
Reserves & Economics of Oil and Gas Production
Leveraging Decision-Making Under Uncertainty
Scheduled Dates
| 28 Oct - 01 Nov 2024 | Online | $3,950 |
Why Choose this Training Course?
Why Choose this 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 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 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 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 System
- Petroleum Reserves
- Return on Investment
- Net Present Value
- Screening and Evaluation of Oil & Gas Projects
Day Three: Modeling and Forecasting
- Building Models from Data
- Reservoir Performance
- Well Production Forecast
- Sensitivity Analysis
- Monte Carlo Simulation
Day Four: Unconventional Resources
- Unconventional Reservoirs
- Rate Forecast
- Economic Value Estimation
- Investment Evaluation Methods
- Bayesian Inference
Day Five: Decision and Uncertainty Analysis
- Sources of Uncertainty
- Risks from Uncertainty
- Decision Tree Construction and Evaluation
- Decision Analysis and Framework
Certificate
- 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
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