The petroleum industry is one of the most important, highly capital intensive and risky business. Global exploration and production spending in 2013 was $644 billion, up 7% from $604 billion the year before. In 2014, the exploration budgets reached $654 billion but this fell to $521 billion in 2015 and in the following year, 2016, there was a further decline of 27%. This year’s global exploration and production spending is expected to increase 7%.
The upstream sector’s profit margins are under real pressure from many factors such as higher costs of developing new reserves, less oil and gas found per foot of exploration drilling, rising inflation, global oversupply and price volatility. Competition for investments, for acreage / concessions, aging of existing reservoirs, the of unconventional oil and gas revolution all contribute business risk and uncertainty.
Petroleum industry projects are by their very nature risky, the challenge however is in assessing, managing, and mitigating this risk proactively. The three biggest planning challenges are predicting costs, assessing profitability, and risk management. All these tasks occur in the early stages of capital planning and failure to adequately evaluate these elements can lead to heavy losses.
This Advanced Oil & Gas Project Economics, Risk & Decision Analysis training course will highlight:
- Identification of the stages required in the risk analysis process, i.e., preparing, modeling, and running risk analysis
- Development of the risk model, assessing probabilities to various variables, risk analysis, and explore the impact of uncertain variables
- Enable the participants to create reports such as, tornadoes diagrams, scatter plots and cumulative probability functions, using excel
- Application of decision trees and Monte Carlo-based simulations to generate profitability indicators
- Enable the participants to develop probabilistic cashflow reports along with probabilistic profitability indicators for decision-making
The primary objectives of this Energy Training Centre training course are to:
- Learn how to handle uncertainty in petroleum projects
- Understand different economic terms used in the oil & gas industry
- Understand the expected value concept and learn its impact on decision tree analysis
- Learn expected theory concepts and attitudes towards risk, risk eversion and risk premium
- Acquire spreadsheet skills including simulation software @RISK
- Carry out cashflow analysis, for petroleum related project and use common economic indicators to evaluate between competing alternatives
- Carry out a comprehensive economic study evaluating petroleum related projects using risk and sensitivity analysis by means of spreadsheets
This Advanced Oil & Gas Project Economics, Risk & Decision Analysis training course will incorporate a mix of learning methods, including but not limited to, high quality power point slides, short videos and active class participation.
An in-depth knowledge of quantitative risk analysis techniques and hands-on problem solving skills will be developed during this training course . Participants will use PC’s to solve a variety of problems better enabling them to utilize the taught material. Furthermore, this training course will enable the training course delegates to reach an optimum decision in capital spending.
This training course approach will be facilitated using Microsoft Excel add on @Risk module and will further assist in promoting discussions among the participants.
By sending delegates on this Advanced Oil & Gas Project Economics, Risk & Decision Analysis training course, your organization will benefit by:
- Learning how to apply economic valuation and risk assessment processes and techniques within the global oil and gas industry
- Help the participants to identify and analyze the risk involved in a petroleum related project
- Assist the participants to apply the decision-making procedures to justify the petroleum projects in terms of profitability
- Participants learn the decision analysis process and foundation concepts so they can actively participate in multi-discipline evaluation teams
- Monte Carlo simulation is discussed and experienced in detail in hands-on exercises
- Adding value to the oil and gas company’s active projects, through the use of case studies
- Help participants to recognize and identify the influencing parameters for oil and gas field developments
By attending this training course, you will:
- Learn how to describe the elements of the decision analysis process and grasp how construct a project cashflow model incorporating sensitivity analysis
- Evaluate investment and design alternatives with decision tree analysis
- Gain the operational decision making techniques using @Risk
- Gain valuable knowledge in identifying the important uncertainties in petroleum projects
- Enhance your awareness of the influential parameters in an oil and gas field development projects
This training course is designed to provide technical and practical approaches to executing a petroleum related project in the upstream sector.
This Advanced Oil & Gas Project Economics, Risk & Decision Analysis training course is suitable to a wide range of professionals but will greatly benefit:
- Planning Managers
- Oil & Gas Engineers
- Project Managers
- Analysts
- Commercial Managers
- Economists
- Government Officials
- Geologists
- Business Advisors
- Asset Managers
- E&P Managers
- Product Managers
- Project Management Professionals
Day One: Development Economics
- A brief history of energy usage
- Principles of development economics
- Understanding of economic terms
- Inflation and its impact on nominal & real cashflows
- Project financing
Day Two: Uncertainty in Investments
- Handling uncertainty in capital projects
- Understanding probability concepts
- The expected value concept: features and pitfalls
- Expected Monetary Value (EMV)
- Expected Profitability Index (EPI)
- Expected Opportunity Loss (EOL)
Day Three: Risks and Uncertainties
- Risk & uncertainty
- Risk aversion and risk premium
- Exploration project threats and opportunities
- Economic decision criteria
- Decision tree analysis
- Probability distribution
- Monte Carlo simulation
Day Four: Setting-up Spreadsheet Calculations Using Excel
- Spreadsheet Calculations
- Cashflow analysis
- Sensitivity analysis calculations
- Tornado diagrams
- Introduction to Monte Carlo simulations using @Risk
- Setting-up an oil field project
Day Five: Practical Use of the @Risk add-on: Oil Field Development Model
- Developing an integrated economic model of an oil field development
- Developing and using an @Risk Model Analysis
- Project sensitivity analysis utilizing data from @Risk Model
- Training course final review and close
We offer two main training formats to cater to different preferences and needs:
- Classroom Training Delivery – Our traditional classroom-based training courses provide a face-to-face learning experience with subject matter experts. You’ll benefit form in-person interactions, hands-on exercises, and a structured classroom environment.
- Online Training Delivery – We also offer convenient live/online training courses that you can access from anywhere with a stable internet connection. These courses provided flexibility and allow you to learn anywhere, making them suitable for busy schedules or remote learning.
The Energy Training Centre Certificate of Completion with corresponding learning hours who has successfully completed the training course.
Yes, we provide assistance by issuing a Letter of Invitation stating that you are confirmed to attend our training.
We value transparency and are happy to provide our instructor’s profiles upon request. If you would like to learn more about our instructor’s’ qualifications, expertise, and experiences, please email us at info@energytraining.ae.
Yes, we do. We provide tailored training courses designed to meet the specific requirement of larger group of individuals. These customized training courses can be conducted both classroom and online formats, allowing you the flexibility to choose you preferred dates and duration.
Please contact us at inhouse@energytraining.ae to discuss your group’s training needs, and we’ll work with you to create a personalized training course that aligns with your objectives.
We have multiple international training venues. You may find this through our website link: https://energytraining.ae/training-locations
Our training courses are held at our partnered hotels within the city included within our training
Yes, here are the following options we can offer to assist you:
- Corporate Discount – We can extend our corporate discount to participants staying at the same hotel, if we have any. Please enquire about the availability of this discount when you register for the training course.
- Nearby Hotel Suggestions – If you prefer other accommodations, we can provide a list of nearby hotels to suit your needs and budget.
Feel free to go through hotel booking platforms on the internet to find the most cost-effective for you.
No, we do not provide job placement services after the training course. However, we are confident that our training course equips you with the necessary tools and knowledge to enhance you career prospects and promote career growth. Our training course are designed to empower you with valuable skills and expertise to excel in your chosen field.
- Tuition fee for a 5-day training course
- Provision of a world-class subject matter expert to deliver this training
- Meeting at a hotel venue corresponding to your chosen session
- Welcome food and drinks, AM / PM snack, and Lunch
- Digital course materials (e-Tablet)
- Course completion certificates
- Designing and administration of Pre-& Post Course Assessments
- Preparation of participant’s Performance and Appraisal Report, if required
- Issuance of Letter of Invitation for delegates needed visa processing, if required
- Tuition fee for a 5-day online training course
- Provision of a world-class subject matter expert to deliver this training through live/virtual delivery
- An electronic copy of the training manual and relevant hand-outs
- Issuance of The Energy Training Centre e-Certificate of Completion
- Administration of Pre-& Post Workshop Assessments
- Link access of online platform acceptable to both parties
Certainly, we do provide corporate rates tailored for organizations seeking to enrol multiple employees in our training programs. To facilitate this, we encourage you to make a formal request via email addressed to info@energytraining.ae. We’ll be delighted to discuss and offer a suitable arrangement for your corporate needs.
Yes, special discounts are available upon request if you have more than one registrant for a course. For further information please email us at info@energytraining.ae
We offer two convenient payment options:
- Bank Transfer – You can make payment via bank transfer. Once your registration is confirmed, you will receive an invoice with the banking details for the transfer. We would require you to supply a swift copy for us to confirm receipt of funds.
- Payment Link – Alternatively, we provide a secure payment link that you can use to complete your payment after your registration has been confirmed.
Upon receipt of your registration details sent via email at reg@energytraining.ae, we will send you the following by e-mail within 24-48 hours of registration.
- Joining Instructions
- Invoice/receipt (where appropriate)
If you register online, you will receive an e-mail on the same day confirming your registration.
There are two convenient options to register for a training course:
- Online Registration Form – Register for your desired training course by completing the online registration form available on our website. Simple click on the registration button or select your preferred dates and provide the requested information.
- Email Registration – You can email us your intention to register at info@energytraining.ae. Our team will guide you through the registration process and provide assistance you may need.
Yes, we do allow registration transfers in the event that you are unable to attend the training course. To initiate a transfer, please send us an official email requesting the change. We’ll guide you through the transfer process and ensure a smooth transition of your registration to another eligible participant.
Our training course sessions are scheduled and posted on our website for your convenience. However, we understand that there may be specific requirement for your group. If you have a preferred venue and specific training dates in mind, please feel free to propose them to us by clicking on the button “Propose you preferred location & date” of your preferred training course.
Our course timings slightly vary between the cities we offer our training courses. Please let us know of your preferred course and session (dates/venue) through email at info@energytraining.ae. Alternatively, you may call/WhatsApp us at +971 50 746 0956.
We understand that time zones may be different between our Senior Consultants and our delegates. Our standard online course timings (11:00 AM to 4:00 PM, GMT+4 – Dubai, UAE) may be adjusted upon confirming the programme. Our team shall communicate between the confirmed registered delegates and suggested a suitable course timing for all.
Our standard course duration for our classroom programmes is 6 hours per day while our online session is 5 hours per day.
Our training programmes are designed to be concise yet comprehensive, focusing on professional development. The duration varies based on the specific course content and objectives – we normally offer programmes between 5 – 10 days. However, our emphasis lies in delivering interactive and engaging sessions that prioritize depth of learning within a condensed timeframe. This approach ensures participants acquire substantial knowledge and skills efficiently.
We have been assessed by TUV Rheinland Middle East FZE and comply with Quality Management System standards – ISO 9001:2015 and ISO 29993:2017, ensuring a commitment to quality and excellence in our operations and services.
Our training courses span across diverse industries, encompassing sectors such as but not limited to:
- Power & Utilities
- Oil & Gas
- Financial Institutions
- Government and Regulatory bodies
- Manufacturing & Production Industry
Our commitment lies in continuously refining and expanding our training course offerings to align with evolving industry landscapes. We encourage individuals to explore our website or engage with our dedicated support team for the latest information on available courses, ensuring access to the most pertinent and current educational resources.
Yes, Energy Training Centre is an ILM Recognised Provider (ID# 002398B), authorized to register learners and offer training courses recognized by ILM. Participants seeking ILM Recognised Certification would need to complete an assessment post the ILM Recognised courses. ILM is a renowned provider of leadership and management qualifications, part of the City and Guilds Group. Additionally, our company is a CPD Certified Training Company, ensuring our commitment to continuous professional development standards.
