Risk, Uncertainty & Economic Analysis for Oil Sands
In this course, one will learn the assessment methods necessary for the technical and economic evaluation of Oil Sands reservoirs. It is designed for engineers, geoscientists, commercial team members, business analysts, and managers who must create value and is based on the premise that sound estimation of important engineering, geotechnical, and economic parameters helps maximize profitability. Unlike traditional deterministic methods that require ongoing examination of key parameters, probabilistic methods take into account that most parameters are full of uncertainty.
| Who Should Attend: | engineers, geoscientists, commercial team members, business analysts, managers |
Course Outline
| Day 1: | Fundamental Concepts Course Overview Probability, Distributions, and Correlation Estimating Under Uncertainty Decision Trees and Expected Value |
| Day 2: | Reserve Assessment Volumetric EUR Assessment Chance Assessment Resource Stage Gate Assessment Aggregation Principles |
| Day 3: | VOI Assessment Production Type Curve Development Assessment with Limited Data Based on Analogs The Value of Information |