Advanced Petroleum Economics and Decision Analysis

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Advanced Petroleum Economics and Decision Analysis

Course dateNew dates coming soonVenueContact usCPD hours20Duration5 DaysFee£4,500

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The energy economy is transforming faster than any industry in history. Success in this new era of environment, competition, and emerging technologies depends not on chance, but on informed, strategic decisions. As Peter Drucker once noted, “The greatest danger in times of turbulence is not the turbulence—it is to act with yesterday’s logic.” This course provides advanced tools to think clearly energy business and challenges ahead—using data, economic reasoning, and decision analysis—to turn global challenges into sustainable opportunities for growth, resilience, and innovation.

Participants will master probabilistic modelling, real options valuation, and Bayesian reasoning—tools essential for evaluating complex upstream projects under uncertainty. The curriculum integrates financial theory, policy economics, and scenario-based planning to support informed decision-making.

Software Requirements: The course uses Lumivero’s Decision Suit Tools (formerly Palisade Decision Suit Tools), including @Risk and Precision Tree. However, delegates do not need access to these platforms as other alternative solutions will be discussed during the course.

This course highlights:

Apply probabilistic valuation techniques to upstream oil and gas assets.
Construct and interpret Monte Carlo simulations for reserves, price, and cost uncertainty.
Use Bayesian updating to refine probability estimates as new information emerges.
Evaluate real options embedded in petroleum investment decisions.
Model probabilistic price scenarios using stochastic processes and market data.
Integrate fiscal regimes, ESG constraints, and policy uncertainty into investment appraisals.

Develop decision support frameworks that combine technical, economic, and strategic dimensions.

Course Objectives

To succeed in the oil & gas industry is to create value. Learning about the subsurface challenges, along with the energy commodity market leads to insights that support good decision making. Good project decisions often lead to value creation.

At the end of this training course, you will learn to:

Explain key aspects of the evolving energy landscape and its implications for oil and gas ventures.
Summarise the fundamental principles of petroleum project economics and valuation techniques.
Apply prudent business decisions to differentiate successful petroleum firms in an evolving global landscape.
Analyse the impact of risk and uncertainty on management decision-making.
Apply consistent financial valuation techniques to analyse petroleum projects.
Use analytical tools and software for effective project evaluation and decision making.
Evaluate the implications of uncertainty and risk on project feasibility.
Create decision support models that consider the influence of uncertain hydrocarbon prices and environmental considerations on value creation.

Who Should Attend?

This course is for anyone involved in the process of decision making. It is ideal for professionals involved in investment analysis, financial modelling, risk assessment, and strategic planning within the oil & gas sector:

Energy analysts & project managers
Petroleum engineers, Facility Engineers
Geology and Geophysics professionals
Business development & corporate strategists
Analysts and market experts
Investment & portfolio analysts
Policy specialists & regulatory advisors
Legal professionals

Day by day

Course Outline

Global energy landscape and geopolitical factors.
Decision quality and framing in high-capital energy projects.
Structuring complex decisions: influence diagrams and decision trees.
Value chain: economic principles underlying petroleum decision-making.
Systematic approaches to managing uncertainty.
Introduction to Bayesian decision theory.
Case Study: framing a multi-stage offshore field development project.

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Recognition

Accreditations

CPD Standards

Helping to develop learning worldwide.

100000+ members59+ countries3000+ chapters

ISO 9001:2015

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Price£4,500

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Dates, Venues & Prices

New dates for this course are being scheduled. Contact us and we'll let you know the upcoming dates — or arrange a session for your team.

Book this course

Date & venue

New dates coming soonContact us

Price£4,500

Places available

Covered by the LTFE Guarantee — 100% satisfaction

Corporate buyer? You can request to pay by invoice at checkout.

Need help deciding?

WhatsApp John

Not sure it's the right course? Ask John.Leave a message

Our Oil and Gas training advisor — replies within an hour during working hours.

WhatsApp John

john@londontfe.com

+447572888372

Run this course for your team

We deliver this course in-house, tailored to your organisation — at your offices or a venue of your choice, anywhere in the world.

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What our delegates say

Thank you for the opportunity for having attended Advanced Skills of the Bid and Tender Management Process from London Training for Excellence. It was a good experience as I find myself with added knowledge so as to contribute I a more quality manner to my com…

Peter W

The course is very adaptable to everyday work and contributes to developing CSR framework in our own organisation. Very practical and useful.

Ove H

The training provided by LondonTFE are very inspirational and thought provoking. The outlines are comprehensive and the method of teaching is mostly practice-oriented. The LondonTFE staff always been able to balance the composition of participants, which contr…

Bilal M.

Frequently Asked Questions

Can I pay by invoice or purchase order?−

Yes — choose “By Invoice” at checkout and we’ll invoice your company. You can also pay instantly by card, Apple Pay, Google Pay or PayPal, with confirmation the moment payment completes.

What’s included in the course fee?+

Expert-led tuition for the full course, all course materials, and your CPD certificate. The fee shown is per delegate; UK VAT is added for UK-billed bookings.

Will I receive a certificate?+

Yes — every course is CPD-accredited and this course carries 20 CPD hours, which you can put towards your professional portfolio.

Can I transfer to a different date if my plans change?+

Contact our team and we’ll do our best to move your booking to another scheduled date, subject to availability. We never cancel a confirmed booking.

Do you offer group discounts?+

Yes — for group bookings or private delivery, ask us for a group quote and we’ll price your team together.

Can this course run in-house for my organisation?+

Yes — we deliver tailored in-house versions of this course worldwide, at your offices or a venue of your choice. Get in touch for a proposal.

How often do you update your course content?+

Our course content is constantly reviewed and updated to ensure we stay up to date with all the latest trends. After every course is completed we review the feedback and improve the material where necessary.

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