Petroleum Project Concept Selection and Optimization Training Course

Petroleum Project Concept Selection and Optimization Training Course

Introduction

Petroleum Project Concept Selection and Optimization Training Course is designed to equip oil and gas professionals with advanced technical, economic, and strategic competencies for selecting, evaluating, and optimizing petroleum development concepts across the upstream value chain. This training course explores industry best practices for identifying development alternatives, evaluating reservoir characteristics, assessing production strategies, and selecting technically feasible and economically attractive project concepts. Participants will gain practical knowledge of front-end engineering and design (FEED), concept screening, feasibility studies, reservoir development planning, production system design, and integrated asset modelling to support informed decisions during the early stages of petroleum project development.

The course also emphasizes digital oilfield technologies, artificial intelligence in petroleum engineering, lifecycle cost optimization, economic sensitivity analysis, and sustainable project development to improve project value and reduce uncertainty. Through practical exercises, scenario-based learning, group discussions, and industry-focused case studies, participants will learn how to compare development concepts, quantify technical and commercial risks, optimize infrastructure configurations, and assess project performance under different operating and market conditions. The programme covers net present value (NPV), internal rate of return (IRR), capital expenditure (CAPEX), operating expenditure (OPEX), production forecasting, uncertainty quantification, and value engineering. By the end of the training, participants will be better prepared to recommend robust petroleum development concepts that balance production potential, investment efficiency, operational reliability, environmental performance, and long-term asset value.

Course Duration

5 days

Course Objectives

By the end of this course, participants will be able to:

1. Apply petroleum project concept selection frameworks to identify suitable development strategies for oil and gas assets.
2. Evaluate reservoir characteristics, production potential, and subsurface uncertainties to support integrated field development planning.
3. Conduct technical and commercial screening of alternative petroleum project concepts.
4. Apply capital investment appraisal techniques, including NPV, IRR, and discounted cash flow analysis.
5. Optimize CAPEX and OPEX through effective infrastructure planning and resource allocation.
6. Integrate reservoir, drilling, production, and facilities engineering into multidisciplinary project optimization.
7. Assess offshore, onshore, subsea, and floating production development alternatives.
8. Apply risk-based decision analysis and uncertainty modelling to improve project selection.
9. Use sensitivity analysis and scenario planning to evaluate oil price, production, and cost uncertainties.
10. Incorporate digital oilfield solutions, predictive analytics, and simulation tools into project evaluation.
11. Evaluate project concepts against health, safety, environmental, and regulatory requirements.
12. Apply value engineering and lifecycle cost analysis to improve project economics and operational efficiency.
13. Develop defensible concept selection recommendations that align technical feasibility, commercial viability, sustainability, and strategic business objectives.

Target Audience

1. Petroleum engineers and reservoir engineers.
2. Production engineers and well development specialists.
3. Petroleum project managers and project development coordinators.
4. Field development planning and asset management professionals.
5. Drilling, completions, and facilities engineers.
6. Petroleum economists, investment analysts, and commercial planning specialists.
7. Engineering consultants and oil and gas technical advisors.
8. Senior managers, decision-makers, and professionals involved in petroleum capital projects.

Course Modules

Module 1: Fundamentals of Petroleum Project Concept Selection

• Principles and stages of petroleum project development.
• Concept identification, screening, and evaluation frameworks.
• Alignment of project objectives with reservoir and business requirements.
• Technical feasibility, commercial viability, and strategic fit.
• Case study: Comparing alternative development concepts for a newly discovered offshore oil field.

Module 2: Reservoir Characterization and Field Development Planning

• Reservoir properties, fluid characteristics, and production potential.
• Geological and reservoir uncertainties affecting development choices.
• Field development strategies for conventional and unconventional resources.
• Well placement, recovery mechanisms, and production forecasting.
• Case study: Selecting a field development strategy for a reservoir with uncertain recoverable reserves.

Module 3: Development Concept Alternatives and Infrastructure Design

• Onshore and offshore petroleum development configurations.
• Fixed platforms, floating production systems, and subsea developments.
• Centralized versus decentralized processing facilities.
• Pipeline networks, export systems, and infrastructure integration.
• Case study: Evaluating a subsea tieback against a standalone offshore production facility.

Module 4: Petroleum Project Economics and Investment Appraisal

• Capital expenditure and operating expenditure estimation.
• Net present value, internal rate of return, and payback period.
• Discounted cash flow modelling and production revenue forecasting.
• Oil price assumptions, fiscal terms, and commercial viability.
• Case study: Comparing the economic attractiveness of two competing field development concepts under different oil price scenarios.

Module 5: Technical Optimization and Value Engineering

• Value engineering principles in petroleum project design.
• Production system optimization and equipment sizing.
• Cost reduction without compromising safety or reliability.
• Infrastructure standardization and modular design strategies.
• Case study: Redesigning a proposed processing facility to reduce CAPEX while maintaining production capacity.

Module 6: Risk Analysis, Uncertainty Modelling, and Decision Support

• Identification of subsurface, engineering, commercial, and execution risks.
• Sensitivity analysis and scenario-based decision-making.
• Monte Carlo simulation and probabilistic economic evaluation.
• Decision trees, expected monetary value, and risk-adjusted project ranking.
• Case study: Ranking petroleum development alternatives under uncertainty in reserves, project costs, and production rates.

Module 7: Digital Technologies, Sustainability, and Lifecycle Optimization

• Digital oilfield technologies and integrated asset modelling.
• Artificial intelligence, machine learning, and predictive analytics in project evaluation.
• Energy efficiency, emissions reduction, and methane management.
• Lifecycle cost optimization and environmental performance assessment.
• Case study: Comparing conventional facility design with a digitally optimized, lower-emission development concept.

Module 8: Integrated Concept Evaluation and Final Selection

• Establishing weighted evaluation criteria and concept ranking matrices.
• Integrating subsurface, wells, facilities, economics, and operational considerations.
• Stage-gate reviews, technical assurance, and decision documentation.
• Preparing concept selection reports and investment recommendations.
• Case study: Conducting a multidisciplinary concept selection workshop and recommending the preferred development option for a hypothetical petroleum field.

Training Methodology

• Interactive lectures and presentations.
• Group discussions and brainstorming sessions.
• Hands-on exercises using real-world datasets.
• Role-playing and scenario-based simulations.
• Analysis of case studies to bridge theory and practice.
• Peer-to-peer learning and networking.
• Expert-led Q&A sessions.
• Continuous feedback and personalized guidance.

Register as a group from 3 participants for a Discount

Send us an email: info@datastatresearch.org or call +254724527104 

Certification

Upon successful completion of this training, participants will be issued with a globally- recognized certificate.

Tailor-Made Course

 We also offer tailor-made courses based on your needs.

Key Notes

a. The participant must be conversant with English.

b. Upon completion of training the participant will be issued with an Authorized Training Certificate

c. Course duration is flexible and the contents can be modified to fit any number of days.

d. The course fee includes facilitation training materials, 2 coffee breaks, buffet lunch and A Certificate upon successful completion of Training.

e. One-year post-training support Consultation and Coaching provided after the course.

f. Payment should be done at least a week before commence of the training, to DATASTAT CONSULTANCY LTD account, as indicated in the invoice so as to enable us prepare better for you.