This course focuses on the business side of exploration; i.e., how does a company decide whether to move forward with a particular project? Attendees will learn how a structured decision analysis and portfolio optimization process uses the hydrocarbon volumes and risk analyses provided by exploration geoscientists to identify the projects with the best economic potential.
Who should attend the training
Exploration geoscientists and managers wanting to understand the economics of petroleum exploration.
The training time: (5 days)
Basic petroleum geology and petroleum systems.
• The business side of exploration
• Comparison of exploration projects under different fiscal regimes
• Role of project economics
• Calculation of cash flow and net present value (NPV)
• Worldwide fiscal regimes and their impact on exploration
• Probabilities, risk, and project risk assessment
• Fundamentals of decision analysis and decision trees
• Expected monetary value
• Value of information
• Comparative analysis of multiple projects
• Strategy and portfolio analysis
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