Alia Fakim (+44 20 7978 0085)
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The course will deal with advanced concepts from the outset, therefore it is essential that each participant has basic knowledge of the project economics. If participants do not [...]
The course will deal with advanced concepts from the outset, therefore it is essential that each participant has basic knowledge of the project economics. If participants do not have this prior knowledge it is important that you attend our Project, Economics, Risk and Decision Analysis in Oil & Gas programme to familiarise yourself with the basic concepts, terms and techniques.
The course will explore advanced decision making techniques incorporating financial modeling and software in your decision making process including Decision Trees and Monte Carlo Simulation, designed and developed by the course leader. Computers will be used throughout the course.
Participants will leave the course with the ability to build new robust models as well as the ability to sophistically tailor existing deterministic models to successfully handle risk and uncertainty.
Industry case studies will be used in class, developing knowledge and the ability to tackle uncertainty in a number of different oil and gas focused scenarios.
On completion of this course you will receive a complimentary copy of the course leader’s published book, “Project Economics and Decision Analysis, Voll II, Probabilistic Models”.
By Attending This Course You Will:
- Fully understand the important principles of decision making, identify and tackle risk and uncertainty in day-to-day decisions
- Apply advanced techniques and models in planning and in making complex, innovative decisions
- Leave with an effective tool kit to enhance your ability to make high level, cost effective decision and the ability to handle risk and uncertainty
Who Should Attend:
- Petroleum engineers
- Oil & gas investment analysts
- Project management personnel
- Personnel involved in budgeting and profit planning
- Bankers dealing with oil & gas industry financing
- Business development personnel
- Personnel involved in research and development
Senior Petroleum Engineering Consultant
1. Introduction to Decision Analysis
2. Risk and Uncertainty
3. Understanding Probability Concepts
4. Expected Value Concepts
5. Expected Profitability and Performance Index
6. Decision Trees
7. Value of Information
8. Incorporating Attitudes Towards Risk
9. Determining Venture Participation
10. Monte Carlo Simulation
Course Cost: £2,499 + VAT
28 (Tuesday) - 30 (Thursday)