Course overview

In this course, practical knowledge and experience are the preferred guidelines and the content deviates from the academic approach commonly proposed by training companies for the majority of geosciences related courses. Theoretical knowledge is a necessary base, however, each individual in the oil industry needs to understand and to learn how to convert an opportunity to a business case. 

The course is designed for

• Geoscientists and managers that are involved in oil & gas exploration matters or who are dealing with reservoir quality and content predictions;
• It is also suitable for oil industry engineers and economists working in multidisciplinary teams and having a good awareness of geological terminology and routine working methods;
• This course does not replace any university lectures and participants are expected to have some experience in oil industry.

Learning objectives

After having followed this course, participants will be familiar with the entire oil project exploration evaluation chain, uncertainties and risk management, basic portfolio management practices and project ranking options.

Course outline

Prospect evaluation objectives and standards

Workflow

Major components

New ventures particularities

Volumetric estimates, their parameters and results understanding

Coping with uncertainty

Probability, distributions, correlations

Risk analysis

Multiple objectives, dependencies

Prospect value estimates

Project / prospect databases

Project / prospect maturation and tracking

Ranking, reporting