Introduction to Prospect Evaluation Introduction to Prospect Evaluation

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Introduction to Prospect Evaluation

Geodwipa launches the Geodwipa Graduate Training Series program which contains series of courses related to the petroleum geology which are designed for students, fresh graduate and entry level professionals. The purpose of this program is to equip them with knowledge and best practices that they have not yet gotten from the university, but from the experience of the trainers who are always directly involved in the oil and gas industry. Thus if they later enter to the industry, they will be better prepared with the provision of additional knowledge they have gained during this program. All our trainers are experienced professionals with more than 15 years of experience in the oil and gas industry.

One of the Course on the Graduate Training Series program is "Introduction to Prospect Evaluation". This training provides an overview and provision of how to become a capable Geologist who understand petrophysics, logging process, principle of basic log measurement and the use of log analysis. Also in this training participants will be given study case with some real examples and exercises to further develop your understanding.

Course Info



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.

The course will be delivered 5 days in classroom, at the Geodwipa Training Facility, on March 2019. Click the Register button or contact our marketing at to join this training!

Location Start Date End Date Price Register
In House
30 Nov -0001
30 Nov -0001
1200 USD/person