Petroleum Resource Assessment and Commercial Evaluation Training Course

Petroleum Resource Assessment and Commercial Evaluation Training Course

Introduction

Petroleum Resource Assessment and Commercial Evaluation Training Course is designed to equip oil and gas professionals with the technical knowledge, economic expertise, and analytical skills required to evaluate petroleum resources and determine their commercial viability. This comprehensive training course explores petroleum resource estimation, reserves classification, hydrocarbon volumetrics, reservoir uncertainty analysis, probabilistic resource assessment, production forecasting, and petroleum economics. Participants will learn to apply internationally recognized frameworks, including the Petroleum Resources Management System (PRMS), to classify petroleum resources, estimate recoverable volumes, assess technical uncertainties, and evaluate development opportunities. The course also examines geological, geophysical, petrophysical, and reservoir engineering data integration to support reliable resource assessments, improve subsurface confidence, and strengthen investment planning.

Participants will develop practical capabilities in evaluating exploration prospects, appraisal projects, field development plans, production-sharing agreements, and mature field redevelopment opportunities. Through realistic industry case studies, economic modelling exercises, scenario analysis, and decision-making simulations, learners will understand how oil prices, capital expenditure (CAPEX), operating expenditure (OPEX), taxation, royalties, production profiles, and market volatility influence project profitability. The training also addresses sensitivity analysis, Monte Carlo simulation, commercial thresholds, portfolio prioritization, and investment decision gates. By the end of the course, participants will be better equipped to translate subsurface resource potential into commercially viable development strategies, optimize capital allocation, communicate evaluation results to stakeholders, and support sustainable, risk-informed investment decisions across the petroleum exploration and production lifecycle.

Course Duration

5 days

Course Objectives

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

1. Apply Petroleum Resources Management System (PRMS) principles to petroleum resource classification, reserves reporting, and commercial maturity assessment.
2. Conduct integrated petroleum resource assessments using geological, geophysical, petrophysical, and reservoir engineering data.
3. Estimate oil and gas resources and reserves using deterministic and probabilistic volumetric methodologies.
4. Evaluate exploration prospects through hydrocarbon-in-place estimation, recovery factor analysis, and recoverable resource forecasting.
5. Differentiate between prospective resources, contingent resources, reserves, and commercially recoverable petroleum volumes.
6. Develop robust petroleum economic models using production forecasts, CAPEX, OPEX, fiscal terms, and revenue projections.
7. Calculate and interpret NPV, IRR, return on investment (ROI), profitability index, and breakeven prices.
8. Perform sensitivity analysis, scenario modelling, and Monte Carlo simulation to quantify uncertainty and investment exposure.
9. Evaluate petroleum fiscal regimes, including royalties, taxation, production-sharing contracts, and government participation.
10. Assess field development plans, production strategies, and project economics under alternative technical and commercial scenarios.
11. Apply risk-adjusted investment appraisal and decision-tree analysis to exploration, appraisal, and development projects.
12. Integrate oil price forecasts, energy market trends, carbon-related costs, and regulatory requirements into commercial evaluation.
13. Prepare professional petroleum resource assessment reports, economic evaluation models, and investment recommendations for management and investors.

Target Audience

1. Petroleum and reservoir engineers involved in resource estimation and field development planning.
2. Geologists, geophysicists, and petrophysicists engaged in exploration and subsurface evaluation.
3. Petroleum economists and financial analysts responsible for project valuation and investment appraisal.
4. Exploration and production (E&P) managers overseeing petroleum assets and development projects.
5. Reserves auditors, resource assessors, and petroleum reporting professionals.
6. Commercial managers, business development specialists, and investment analysts in the oil and gas sector.
7. Energy consultants, project finance professionals, and risk management specialists.
8. Government regulators, national oil company personnel, and petroleum licensing authorities.

Course Modules

Module 1: Fundamentals of Petroleum Resource Assessment

• Principles of petroleum resource assessment and commercial evaluation.
• Petroleum exploration and production lifecycle.
• Definitions of petroleum resources, reserves, and recoverable volumes.
• Overview of PRMS classification and resource categorization.
• Data quality, uncertainty, and resource assessment governance.
• Case Study: Classification of a discovered offshore petroleum accumulation using PRMS principles, identifying the distinction between contingent resources and commercially mature reserves.

Module 2: Geological and Geophysical Resource Evaluation

• Petroleum system analysis and hydrocarbon accumulation models.
• Seismic interpretation and structural mapping for resource estimation.
• Reservoir characterization and geological modelling.
• Integration of well logs, core data, and petrophysical properties.
• Geological uncertainty, fault interpretation, and reservoir compartmentalization.
• Case Study: Assessment of an offshore exploration prospect using seismic interpretation and well data to determine the range of potential hydrocarbon volumes.

Module 3: Petroleum Volumetrics and Reserves Estimation

• Estimation of hydrocarbons initially in place (STOIIP and GIIP).
• Reservoir area, thickness, porosity, saturation, and formation volume factors.
• Deterministic resource estimation methods.
• Probabilistic estimation using P90, P50, and P10 cases.
• Recovery factors, production constraints, and recoverable reserves calculations.
• Case Study: Estimation of recoverable oil reserves for a field using low, best, and high reservoir-volume scenarios, followed by comparison of deterministic and probabilistic results.

Module 4: Reservoir Performance and Production Forecasting

• Reservoir drive mechanisms and production performance analysis.
• Decline curve analysis and production forecasting.
• Material balance and reservoir simulation fundamentals.
• Recovery enhancement and enhanced oil recovery (EOR) potential.
• Production profiles, abandonment considerations, and reserve revisions.
• Case Study: Forecasting production from a mature oil field using historical decline trends and alternative recovery strategies to assess the impact on remaining recoverable reserves.

Module 5: Petroleum Economics and Financial Modelling

• Fundamentals of petroleum project economics and cash flow modelling.
• Capital expenditure, operating expenditure, and decommissioning costs.
• Revenue forecasting based on production volumes and commodity prices.
• Discounted cash flow analysis and time value of money.
• Calculation of NPV, IRR, ROI, payback period, and profitability index.
• Case Study: Building a discounted cash flow model for a proposed gas development project and determining whether projected revenues justify the initial investment.

Module 6: Fiscal Regimes and Commercial Evaluation

• Overview of petroleum taxation, royalties, and licensing arrangements.
• Production-sharing contracts and concessionary fiscal systems.
• Government take, contractor take, and profit petroleum calculations.
• Cost recovery, economic limits, and fiscal sensitivity analysis.
• Commercial terms, contractual obligations, and investment incentives.
• Case Study: Comparing the profitability of the same offshore oil project under a royalty-and-tax concession and a production-sharing contract to determine how fiscal terms influence investment returns.

Module 7: Risk, Uncertainty, and Investment Decision Analysis

• Identification of geological, technical, economic, and commercial risks.
• Sensitivity analysis for oil prices, reserves, CAPEX, and OPEX.
• Scenario analysis and probabilistic economic modelling.
• Monte Carlo simulation and risk-adjusted project valuation.
• Decision trees, expected monetary value, and investment decision gates.
• Case Study: Evaluating an exploration opportunity under uncertain discovery volumes, drilling costs, and oil prices to estimate the probability of commercial success and expected project value.

Module 8: Integrated Commercial Evaluation and Investment Decisions

• Integration of subsurface resources, production forecasts, and economic models.
• Field development concept selection and alternative development strategies.
• Portfolio ranking and capital allocation optimization.
• Preparation of resource assessment reports and investment business cases.
• Management presentations, assurance reviews, and investment recommendations.
• Case Study: Preparing an integrated commercial evaluation for three petroleum development opportunities and ranking them by resource potential, NPV, risk exposure, and capital efficiency to recommend a preferred investment.

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.