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Decisions in E&P ventures are affected by Bias, Blindness, and Illusions (BBI) which permeate our analyses, interpretations and decisions. This one-day course examines the influence of these cognitive pitfalls and presents techniques that can be used to mitigate their impact. Bias refers to errors in thinking whereby interpretations and judgments are drawn in an illogical fashion. Blindness is the condition where we fail to see an unexpected event in plain sight. Illusions refer to misleading beliefs based on a false impression of reality. All three can lead to poor decisions regarding which work to undertake, what issues to focus on, and whether to forge ahead or walk away from a project. Strategic thinking and planning are key elements in an organisation’s journey to maximise value to shareholders, customers, and employees. Through this workshop, attendees will go through the different processes involved in strategic planning including the elements of organisational SWOT, business scenario and options development, elaboration of strategic options and communication to stakeholders. Examples are provided including corporate, business unit and department case studies. This seminar will teach participants how to identify, evaluate, and quantify risk and uncertainty in everyday oil and gas economic situations. It reviews the development of pragmatic tools, methods, and understandings for professionals that are applicable to companies of all sizes. The seminar also briefly reviews statistics, the relationship between risk and return, and hedging and future markets.
Knowledge Sharing ePosters allow one-on-one interactions with presenters and opportunities to study a particular concept at an appropriate level of detail. Subject matter varies, but topics are consistent with the other technical sessions. The oil and gas industry continues to play a key role in growing economies and improving living standards in an increasingly discombobulated world with ever-increasing uncertainties and demands. The recent triumph of the Industry in shale gas and shale oil, mainly in the USA, which is yet to realise its full potential across the world, clearly demonstrate that the natural challenges which lie in subsurface or in deep-water developments are easier to master than those above the surface conundrums. They are less predictable and hardly measurable, such as major oil price crisis, world economic rivalries, exclusionism, and popularism. Despite the aforementioned uncertainties, the industry has managed to deliver the energy the world needs to drive global economic growth, improve standards of living, and make such energy more accessible and affordable to all people. To keep doing this, the industry has clearly had to constantly adjust, reshape and transform itself to continue delivering its mission.
Gas-based EOR in tight unconventionals is a growing application to tap the vast unproduced oil and condensate resources in liquid-rich shale basins. The Huff-n-Puff process now involves several hundred wells in the Eagle Ford, and pilots are planned or ongoing in all other liquid-rich basins (Bakken, Permian, and Montney). The seminar will discuss the Huff-n-Puff gas EOR process specifically, but will also address relevant fundamentals of displacement-based gas EOR methods (miscibility, vaporisation, and displacement) in tight unconventionals. Introduction to unconventional gas EOR Review ongoing industry gas EOR projects in North America unconventionals What makes unconventional gas EOR different than conventional? Several oil fields are currently under one or more of Enhanced Oil Recovery (EOR) processes Worldwide. Main groups of EOR processes include chemical, solvent (gas), and thermal EOR plus other processes. The goal of this seminar is to provide attendants with solid understanding of different aspects, types, and applications of current and advanced Enhanced oil Recovery (EOR) processes. The main oil recovery categories include primary, secondary, and enhanced oil recovery.