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)

Day 3

• Decision Trees and Value of Information
• Exploration Economics: Estimating Profitability
• The Most Crucial Decision: Selecting New Plays

Day 4

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

Day 5

• Final Exercise
• Conclusion

This course is designed for student, fresh graduate and entry level professional

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.