CODE: OG18
DURATION: 5 Days/10 Days
CERTIFICATIONS: CPD
This course offers a structured approach to identifying and analyzing petroleum risks in the upstream sector. It introduces decision-making tools and supporting software, using real oil and gas case studies for practical relevance. The Petroleum Economics module covers the role of economics in exploration and production decisions. Participants will learn to conduct economic evaluations using discounted cash flow forecasts and key financial indicators to rank and compare projects. The Risk Analysis module uses an offshore field development case study to explore technical and commercial uncertainties. Key techniques include Monte Carlo simulation, Decision Tree Analysis, Parametric and Sensitivity Analysis. Participants will gain hands-on experience with Crystal Ball and decision tree software.
This course is available in the following formats:
Blended Live
Classroom
Request this course in a different delivery format.
Course Outcomes
At the end of the programme participants will understand the following key attributes:
Petroleum Economics – the basis of project evaluation
Development Economics
Exploration Economics
Incremental Economics
Risk Analysis
Combining uncertainties
Tools for Quantifying Risk
Technical Uncertainties and their Management
Commercial Uncertainties and their Management
Portfolio Management
At the end of this course you’ll understand:
ü Petroleum risk assessment techniques
ü Economic evaluation of E&P projects
ü Discounted cash flow modeling
ü Project ranking and comparison
ü Monte Carlo simulation
ü Decision Tree Analysis
ü Parametric and sensitivity analysis
ü Technical and commercial uncertainty analysis
ü Use of Crystal Ball software
ü Real-world case studies and scenarios
This course is ideal for petroleum economists, geoscientists, reservoir engineers, project managers, financial analysts, planning and investment professionals, and anyone involved in evaluating exploration and production opportunities. It is also valuable for decision-makers seeking to enhance their understanding of risk and economic analysis in upstream oil and gas projects.
Delivery Format: Classroom
Date: 09/05/2025
Location: London
Delivery Format: Classroom
Date: 01/09/2025
Location: London
✓ Modern facilities
✓ Course materials and certificate
✓ Accredited international trainers
✓ Training materials and workbook
✓ Access to online resources
