A decision to drill an exploration well with the objective to find a new oil or gas field must be based on a sound assessment of the prospect's risks and of the volumes: what is the chance that a well will find hydrocarbons, and how much could it be?
Risk and volume assessments form the basis for decisions to drill a well or not, and as such it is the link between subsurface evaluation and the business aspects of the petroleum industry.
This course explains how risks and volumes can be assessed in a realistic manner, based on a sound understanding of the geological details of the prospect as well as of its regional geological setting and our play understanding.
The course will focus in detail on:
At the end of the course the participants will have a good understanding of the essentials for a realistic risk and volume assessment of exploration prospects. Participants will be equipped to independently carry out meaningful and realistic risk and volume assessments for prospects they are working on, and to productively participate in review sessions for prospect assessments carried out by others. They should also be able to critically assess risk and volume assessments presented to them in data room settings, and to quickly identify any flaws.
Each topic is introduced by a lecture, and learning is re-enforced by practical exercises. There is time for discussions of general issues and any specific questions participants may have. Comprehensive hand-out material in paper and/or electronic format will be provided. On request, special emphasis can be given to the local geological setting.
Who is it for?
This course is designed in the firsts place for geoscientists working in exploration and their direct supervisors. The course is also very instructive for staff from other disciplines working closely with exploration staff, such as reservoir engineers, petrophysicists and prospect portfolio analysts.
Senior geoscientists and supervisers in exploration technical disciplines
What will I be able to do after participating?