For teams that are evaluating hydrocarbon assets, the evaluation process is often characterised by informational and decision making challenges. Seismic data can be patchy, financial & tax regimes change frequently, production models may not be sensitive to changes in geotechnical parameters. Due to these drivers, often asset decisions may be taken at a discrete asset level without looking at the impact on the overall portfolio.

Effective and profitable portfolio management relies on the consistent assessment of the value of the assets in the portfolio, in terms of volumes, and hence production profiles, and their associated chances of commerciality and ranges of uncertainty.

This hands-on course will provide a systematic approach to portfolio management of hydrocarbon assets and how to assess them. You will gain an understanding of:

• Industry standard classification systems for hydrocarbon resources
• Methods for assessing chance of commerciality and ranges of uncertainty
• Techniques for assessing volumes for prospective resources, contingent resources and reserves
• How these assessments can be used in sophisticated portfolio analysis, optimisation and strategy formulation