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ONLINE: Evaluating Opportunities for Resource Progression (PBM939)


    This course outlines a workflow to create value in oil and gas fields; it is based upon the comparison of cost and benefit of (a) the exploration for new reservoirs and (b) the potential of opportunities of existing fields.
    By bringing these two activities together in a common process we can consider the real potential for asset value growth, particularly when investment resources are restricted.
    The workflows described in this course lead to a deep insight on what recovery levers could be targeted and what will be required to achieve optimum economic benefit.

    Course Structure: 3 modules of 3 hours each, delivered over 3 days
    Each day will consist of 1 module which will be no more than 3 hours in length with multiple breaks.

    Course Level: Skill / Advanced
    Duration: 3 days
    Instructor: Pete Smith

    Designed for you, if you are...

    • A petroleum / reservoir /drilling engineer or geoscientist working in a multidiscipline team

    How we build your confidence

    This is a three-session online course with lectures supported and illustrated by worked examples, case studies and follow-up exercises, group exercises and quizzes to give assurance that key learnings are accomplished.

    The benefits from attending

    By the end of the course you will feel confident in:

    • Evaluating key elements of resource progression
    • Understanding the technology, cost and organisational requirements for resource progression
    • Establishing how to select the key efficiency factors that constitute the overall recovery factor
    • Appraising the potential for EOR activities and understand the cost and technology requirements
    • Developing principles for petroleum economic analysis
    • Building a coherent company strategy that is technically feasible and enhances asset value


    Session 1
    • Introduction
    • Risk and uncertainty - biases & heuristics
    • Volume estimation & benchmarking
    • Prospect geological risk analysis
    • ALPHA FIELD EXAMPLE - geological risk

    Session 2
    • Reservoir mechanisms
    • Estimation tools
    • Resource progression
    • ALPHA FIELD EXAMPLE - volumetric calculation

    Session 3
    • Project economic & portfolio analysis
    • Commercial evaluation and fiscal regulations
    • ALPHA FIELD EXAMPLE - project opportunity & value summary



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