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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
Professionals working in the field of Economy, Finance, Business Administration and Investment
Petroleum Engineering Disciplines
Regulatory, Security and Political Authorities
Merger & Acquisition
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.
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.
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.
Day One: Economic Principles
Cash Flow Analysis
Time Value of Money
Day Two: Hydrocarbon Resources Economic Evaluation
Petroleum Resources Management
Screening and Evaluation of Oil & Gas Projects
Day Three: Decision and Uncertainty Analysis
Sources of Uncertainty
Monte Carlo Simulation
Decision Analysis and Framework
On successful completion of this online training course, a PetroKnowledge E-Certificate will be awarded to the delegates