Course Description

This practical and highly-interactive course includes various practical sessions and exercises. Theory learnt will be applied using our state-of-the-art simulators. This course is designed to provide participants with a detailed and up-to-date overview of E&P risk analysis, prospect evaluation and exploration economics. It covers the importance of economic and risk analysis including demand, supply and the market; the oil price in short term and long term; the fundamentals of oil and gas hedging; the sequence of events of a new discovery; the exploration economics and reservoir drive mechanisms; the reserve estimation and decline curve analysis; and the production profile, revenue, costs and profit and time value of money. During this interactive course, participants will learn the net present value, internal rate of return and pay out time; the profit/investment ratio, oil agreements and economic models and spreadsheet design; the risk and uncertainty, expected value concept and decision tree analysis; the monte carlo simulation, probability analysis, sensitivity analysis and decision analysis; and the integrated economic model of a typical oil field development.

TRAINING METHODOLOGY

This interactive training course includes the following training methodologies as a percentage of the total tuition hours

30 % Lectures
20 % Workshops & Work Presentations
20 % Case Studies & Practical Exercises
30 % Videos, Software & Simulators

In an unlikely event, the course instructor may modify the above training methodology before or during the course for technical reasons.

VIRTUAL TRAINING (IF APPLICABLE)

If this course is delivered online as a Virtual Training, the following limitations will be applicable

Certificates	:	Only soft copy certificates will be issued to participants through Haward’s Portal. This includes Wallet Card Certificates if applicable
Training Materials	:	Only soft copy Training Materials (PDF format) will be issued to participant through the Virtual Training Platform
Training Methodology	:	80% of the program will be theory and 20% will be practical sessions, exercises, case studies, simulators or videos
Training Program	:	The training will be for 4 hours per day starting at 09:30 and ending at 13:30
H-STK Smart Training Kit	:	Not Applicable
Hands-on Practical Workshops	:	Not Applicable
Site Visit	:	Not Applicable
Simulators	:	Only software simulators will be used in the virtual courses. Hardware simulators are not applicable and will not be used in Virtual Training