The course will provide a structured approach to defining and analysing petroleum risks in the upstream business.
The course is designed for staff working in geoscience, engineering, finance, or commercial departments of oil and gas companies, or companies which supply finance or services to the oil and gas industry.
Duration
Learning Level
It will introduce decision-making tools and the supporting software, using case study material taken from oil and gas field examples to ensure direct applicability of the techniques covered.
The initial Petroleum Economics element of the course provides knowledge of the role of petroleum economics in decision making for both exploration and production ventures. It gives participants the skills to perform economic evaluations using a selection of indicators derived from discounted cashflow forecast, to rank projects against alternatives, and investigate economic robustness.
The objectives of the Risk Analysis section are achieved through the use of a case study taken from an offshore oil field development to identify, express and analyse technical and commercial uncertainties. This allows continuity between the various subjects covered. This element will ensure that participants are fully familiar with techniques such as Monte Carlo simulation, Decision Tree Analysis, Parametric Analysis, sensitivity analysis, and that they have the software skills to support the application of these methods. Participants will be working with Crystal Ball and Decision Tree analysis software. Broader issues such as Portfolio Management are also introduced.
Duration is 5 days.
BSc, MBA
40+ years - reservoir engineering, economics and risk analysis
Mark develops and runs courses in Early Development, Business & Risk and Reservoir Engineering series. He has a career background at Shell, TRACS (Director), and AGR (VP). Mark is Author of ‘Petroleum Economics and Risk Analysis’ and co-author of ‘Hydrocarbon Exploration and Production’, an SPE distinguished lecturer, and guest lecturer at Heriot-Watt University.
BSc, MEng
35+ years - reservoir engineering
Jerry mainly tutors courses in the Reservoir, Early Development, and Open Air Series. He has a career background at Shell, TRACS and AGR. Jerry is co-author of ‘Adventure Trekking in Oman’.
Energy transition and renewables
Early development
E&P overview
Reservoir
Wells
Business
Open air
Uncertainty and Risk
e-Products
