Day 1

• Introduction.
• Statistic: The Language of Uncertainty -Probability & Distribution.
• Coping with Uncertainty.

Day 2

• Estimating Petroleum Estimating Ultimate Recovery.
• Expected Value and Chance of Prospect Success.
• RMAG Exercise (intro)
• Decision Trees and Value of Information
• Exploration Economics: Estimating Profitability
• The Most Crucial Decision: Selecting New Plays

Day 3

• Dealing with Risk
• Prospect Inventories and Portfolio Management
• Acquisition Strategies and Bidding
• Performance Tracking
• Final Exercise
• Conclusion

Practical application of concept and method is demonstrated for participant using real prospect. Completion of the course should prepare participant for immediate application and utilization of all concept and technique in the economic appraisal opportunities.

Mr. Sidiq Pramada

Having more than 20 years experiences of Oil & Gas Industry experience within Service and Operator Company in South East Asia and North Atlantic region. He is an Geoscientist and experienced in covers many oil & gas clients such as Schlumberger, Total, Talisman, Repsol, DONG, and Pertamina. Familiar with some G&G interpretation software like Sismage, GeoX, GeoFrame Charisma, IESX, CPS3, Geology Office, InDepth, SeisCalss, Petrel, OpenSpirit, Strata (Hampson-Russel) and Sismage, Seismic stratigraphy, basin analysis, inversion and attribute analysis, facies classification base on seismic attribute, geological modelling and simulation.