This advanced level scenario based training programme is designed to enable you to: Understand the practical use of economic and risk management tools for oil & gas development decisions Identify and estimate key uncertainties duringfield development and full life cycle economics Calculate the commercial viability of projects under risk conditions Develop and adopt a structured approach to measuring, managing and combating commercial risk Apply this understanding to prepare convincing project proposals Improve project and business outcome

This course is designed for explorationists, project managers, asset managers, financial, commercial, governmental and advisory executives and supplier
companies staff who present, sponsor, finance or approve these important investment decisions. Prior knowledge of investment appraisal techniques is assumed, as is spreadsheet knowledge.

This course achieves its learning outcomes by setting up small teams each using a dedicated PC with realistic economic and risk models. The teams’ analysis and decisions are reviewed at each stage and at the end of the programme to establish which results in the best overall outcome.
You will need to bring with you to the course a calcuator and a portable PC. Alternatively, we can arrange a PC at an additional charge.

It is recommended that you attend Petroleum Project Economics & Decision Making before this course. Thosew who attend both courses at the ame venue during the same week can deduct 10% from the combined course fee.

• Economics, Risk & Decisions – Decision Points are RISK POINTS

• Decision Points for Oil Fields and Gas Fields

• Risk & Probability Definitions and Concepts

• Economic Measures of Project outcomes – NPV, PI, IRR, Payback, EMV, Unit Technical Cost

• Forecasting as Risk Management

• Assumptions, Sensitivities & Risk Premia

• Petroleum companies lifecycles, use of strategy and portfolios to manage risk and meet business objectives

Scenario 1 - Exploration & Appraisal Decisions, uncertainty, risk and exposure

• Monte Carlo Simulation

• Economic Models & Spreadsheet design

• Contracting/service companies risk management options

Scenario 2 - Development Decisions

• Workscope definition and options

• Decommissioning/Abandonment economics & risks

• Cost Estimating and contingencies

• Financing options

• Construction contracts

• Preparing convincing project proposals

• Project uncertainty, risk and management

Scenario 3 - Operational & Further Development Decisions and Economic Cut Off

• Risk Identification

• Risk Measurement & Quantification

• Risk Management Responses

Click here to find out the duration(s), dates, cost and location(s) for the course.