COURSE OVERVIEW

This practical and highly-interactive course includes real-life case studies and exercises where participants will be engaged in a series of interactive small groups and class workshops. 

 

This course is designed to provide participants with a detailed and up-to-date overview of Quantitative Decision Making in the Oil/Gas Industry. It covers the decision making in oil/gas, quantitative analysis, statistical concepts for decision making and decision trees in oil/gas; the data sources and quality in oil/gas and risk identification, classification and probability assessment techniques; the expected value and variance, sensitivity and scenario analysis, portfolio decision making and real options analysis; and the discounted cash flow (DCF) analysis, cost-benefit and cost-effectiveness analysis, production forecasting and decline curve analysis. 

 

Further, the course will also discuss the optimization techniques and economic modeling under uncertainty; the cost of capital and hurdle rates, exploration risk analysis, reserves and resources estimation; the drilling decision analysis and production optimization decisions; and the facility sizing, investment timing, quantitative safety and environmental decisions. 

 

During this interactive course, participants will learn the asset modeling for decisions, quantitative decision support systems and communicating quantitative results; and the decision making techniques covering Delphi method, nominal group technique and managing bias in group settings.