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Risk Analysis & Decision Making in Petroleum

Curriculum

  • 5 Sections
  • 15 Lessons
  • 5 Days
Expand all sectionsCollapse all sections
  • Module 1: Petroleum Industry Risk Landscape
    3
    • 1.1
      Types of risk across exploration, development, production, and decommissioning
    • 1.2
      Sources of uncertainty: geological, technical, economic, operational, and political
    • 1.3
      Relationship between risk, value, and strategic decision-making in petroleum projects
  • Module 2: Qualitative Risk Assessment Tools
    3
    • 2.1
      Risk identification, categorisation, and prioritisation techniques
    • 2.2
      Risk matrices, heat maps, and expert judgement methods
    • 2.3
      Scenario development and early-stage screening for project options
  • Module 3: Quantitative Analysis & Uncertainty Modelling
    3
    • 3.1
      Scenario development and early-stage screening for project options
    • 3.2
      Monte Carlo simulation basics and application in petroleum economics
    • 3.3
      Evaluating outcomes using expected value and probabilistic forecasting
  • Module 4: Decision-Making Frameworks in Petroleum Projects
    3
    • 4.1
      Decision trees and decision-analysis workflows for upstream investments
    • 4.2
      Evaluating project alternatives under uncertainty and risk trade-offs
    • 4.3
      Integrating technical, commercial, and strategic inputs into decision gates
  • Module 5: Risk Mitigation, Monitoring & Performance Tracking
    3
    • 5.1
      Developing risk mitigation strategies across the petroleum project cycle
    • 5.2
      Early warning indicators, risk registers, and monitoring processes
    • 5.3
      Embedding continuous learning and structured risk governance in organisations
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