Training for Risk Management and Quality Decisions in Upstream E&P Projects
Enhance risk management for upstream petroleum projects in your organization with these training opportunities
- Familiarity with PetroVR software, how it can be used to build higher quality models and how decision making is achieved using this system
- Comprehension of how to include uncertainty into the analysis by using probabilistic techniques
- Understanding how to model integrated petroleum business systems from subsurface to the surface to economics
- Fundamentals of how to build petroleum fiscal models for economic analysis
- Techniques to generate insights about exploration value, facility size, well scheduling, rig strategy, capital allocation and various other topics
Prepares a team to accelerate project simulation and conclude with defensible decision models. Includes hands-on building of a PetroVR model and introduction to concepts for proper framing and stochastic analysis.
Provides team understanding of business simulation and project planning principles for risk management in upstream petroleum projects
Develops a decision hierarchy from Objectives to Givens (decisions already made), including defined Focus Decisions (to be made first) and Later Decisions (that can be deferred)
Both veterans and novices benefit from practice sessions that delve into actual case studies ranging from EOR/IOR to deepwater to unconventional
Produces a Strategy Table, an exhaustive and realistic list of choices for each focus decision, including alternative strategies to test the decision space
Attendees gain sound good working knowledge of how to use PetroVR simulation software to build defensible decision models
PetroVR is backed by a veteran executive coaching team at Aucerna
Today’s E&P business environment demands greater predictability in making business investment decisions. Coaching support in conjunction with using PetroVR software for risk analysis in petroleum exploration helps identify business issues and avoid misdirected emphasis early in project life-cycles.
Encompass all issues that can impact risk and opportunity.
Build "decision models" that include all relevant uncertainties.
Integrative modeling permits more time to explore strategy and create insight.
Coaching Success Story
Recently, PetroVR Coaches worked directly with a client on an unconventional EOR project where the development planning team was confronted by uncertainties in scaling up a large number field patterns into a “risked-future forecast” combined with an existing production curve.
Coaches from PetroVR worked side-by-side on a simulation model that encompassed wells, facilities, schedule, economics and risk. Together, coaches and development team reached an understanding how to deliver on corporate production, CapEx and timing goals. Previously unquantified decision trade-offs were realized for much greater confidence. And the model was delivered within two weeks, a time period far less than expected for a complex analysis of that magnitude.
You can login (or register) to our Help Desk to enter requests with questions, issues, and ideas.
Demo License once you are logged into client website.PetroVR and ask for a
You might find these introductory exercises useful as well:
- The is an introduction to PetroVR.
- The is an example of an Onshore Development case
- The exercise is an example of Offshore Development cases.
These exercises are downloadable zip files that include PDFs and PetroVR project files. Please start by reading the PDF file which will take you through the exercise. The PetroVR projects will allow you to look at the completed models for each exercise. More specific exercises will help new users to get in touch with some of the basic capabilities of PetroVR.
- Specialized Facilities
- Rerouting and Split Streams
- Interventions and Learning Curves
- Model QA and QC
- Job Start Conditions