This workshop aims to bring together a wide industry audience including practitioners of economics and decision making, generalist and external experts.
It will address the emerging analytical approach, methodologies, tools, and techniques in all aspects of petroleum economics, as well as new methods in portfolio management and decision analysis. In addition, the workshop provides an excellent platform to network with your fellow practitioners.
An uncertain future is upon us. Amid the oil price improvement recently, the effort to be agile is critical for survival. Oil and gas companies are bogged down by increasing constraints and beset by ever more challenges. Key challenges include project delivery schedule, cost optimisation, technological disruptions and environmental regulations that affect the business environment.
Thus, beyond surviving, thriving in a changing business environment requires companies to aim towards optimising values, maximising business goals under constraints through efficient use of economic drivers; price, volume, time, cost, fiscal terms, technology, etc. As value is a function of those economic drivers, economists are therefore best positioned to advise and champion for their efficient use. Economics lies at the heart of all decision making in all petroleum activity.
Echoing that clarion call for collaboration and engagement, this workshop aims to serve as a sounding board for debates and sharing of knowledge, as an incubator for innovative ideas in petroleum economics. Participants will learn about latest organisational understanding, determination and applications of economics to all their activities.
The future is uncertain, perhaps. But with the latest knowledge and the best tools, it will be an exciting and rewarding adventure—together.