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Course Details

Managing Uncertainty and Risk in Appraisal and Development
membership open inhouse


The course introduces probabilistic and deterministic approaches, their benefits and shortcomings, as applied to project approval, appraisal, reservoir surveillance and production forecasting. Included is the examination of the factors contributing to project uncertainty; subsurface, drilling, facilities, production, scheduling, cost and economics. The aim is to deepen the understanding of the complex and varying risks involved in delivering accurate estimates of production, reserves and value to key internal and external stakeholders and hence enhance decision making capability.

Duration and Training Method

This is a five-day classroom-based course with lectures supported and illustrated by worked examples, case studies and hands-on exercises. The course includes many practical applications and group exercises to develop understanding. Since participants may have different levels of background in petroleum economics and statistics there are additionally four optional pre-course eLearning modules that provide a fundamental overview of these topics. Participants are required to bring along a PC laptop running Excel.

Class Dates

Competency Level: Skilled Application
Format: Classroom

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04 Nov 2019 - 08 Nov 2019
membership open
United Kingdom
  • Class Code: N995a19EU
  • Tutor: Pete Smith
  • Location: Imparando, London
  • CEUs: 4.0
  • Booking Status: Places Available
  • Price: GBP £4,030.00 for open access members

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Delivery types available:
Alliance Membership
Open Access