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This webinar will review the evolution of petroleum economic tools, highlight the recent advancements in technology, and explore future possibilities. We will discuss how digital transformation impacts not only the work of the petroleum economist; but improves the quality of decision making in their organizations. Lastly, we highlight the practical pathways that leading oil and gas companies are taking to make digital transformation in Petroleum Economics an essential reality.
Petroleum economics is pivotal to an oil and gas company’s analysis and evaluation. It is essential for business-critical processes, such as Year-End Reserves, Stage Gate and FID Decisions, Business Planning, Portfolio Analysis, and Impairment Reviews, to name a few.
With the bygone days of “Easy Oil” and in this new “Digital Age” with an abundance of data and cloud computing, it is critical that petroleum economists and their tools and processes keep up with the times. The need for working in a multi-disciplinary team so as to be responsive to constant change means the days of siloed petroleum economists manually gathering inputs via email and working with their “prized” spreadsheet are (or absolutely should be) long gone. Instead, the economic analysis need to be contextual, rigorous, dynamic, consistent, and perhaps most importantly insightful.
Raj Sen is the Senior VP of Asia Operations at Aucerna. With over 25 years of diverse oil and gas industry experience, Raj has a proven track record of delivering technology solutions at over 30 E&P companies across 15 countries globally. He has implemented business planning systems at IOCs and NOCs, including Shell, Origin, Petronas, and CNNOC. He has extensive knowledge of portfolio management as well as fiscal modeling and has a particular interest in decision and risk analysis. An energetic trainer, Raj has developed and delivered training courses in petroleum economics, decision analysis, and portfolio optimization to over 1,000 petroleum professionals. Raj holds a B.A.Sc. in Chemical Engineering from the University of Waterloo, Canada, and an MBA from Mt. Eliza Business School, Melbourne Australia.
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