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Many companies are taking a pro-active stance toward new technology and have assembled teams to scout and implement new techniques and technologies in their operations. Please meet Mike Party, part of the Emerging Technology Team at Hess. Mike speaks to us today about the quest for the breakthrough technologies. Mike will be presenting at AAPG's Success with Difficult Unconventionals, Nov 12-13, in Houston.

Recently Added Training

AAPG Event 24 February, 2020 8:00 AM 5:00 PM 24 October, 2019
 
24 February 2020

Date: Monday 24 February 2020 (1 day)
Instructor: Steve Begg, DecisionsDecisions, Australia

Overview:

There is strong evidence that many Oil and Gas projects are plagued by large cost and schedule overruns, or significant under-performance in productivity and other metrics used to justify decisions.

Business outcomes are largely determined by two factors: the decisions we make and uncertainties over which we have no control. The best we can do to get good outcomes is to make good decisions. But have you ever been taught how to make a good decision? Would you know a good decision if you saw one?

This workshop will introduce key concepts in Decision Analysis (DA) and the Decision Dialogue Process (DDP) – a non-proprietary, rigorous (scientifically underpinned) approach to decision-making, used for over 40 years in a variety of sectors such as oil & gas, pharmaceuticals, IT, military, aviation, environment ….. Together, they provide a prescriptive, pragmatic, auditable methodology (process and tools) to help people create and evaluate choices, leading to high quality, compelling decisions. The methodology is entirely scalable in that its principles can be implemented within a few minutes or over weeks or months, depending on the nature and importance of the decision. Thus it is applicable from relatively small investments (hiring an employee; choosing a supplier of services or software) through to major decisions (acquiring leases; drilling; project developments; or organizational strategy). It is equally applicable to personal decisions.

The workshop will cover the key conceptual ideas that are required to make good decisions and introduce a model that is applicable to most decisions that require a modicum of thought. Attendees will be expected to respond to questions about decision-making and engage in small group discussions and exercises.

Who Should Attend

All people who make, or provide input to, decisions - from relatively minor decisions (e.g. to collect data or do “studies”, analysis, interpretation) up to major investment or strategic decisions. Suitable for all geoscientists, engineers and people involved in commercial, economics, business development, strategy.

Course Content
  • Questionnaire
  • Decisions & Uncertainty
    • Poor business performance and it’s major causes: uncertainty and “flawed thinking”
    • Decision-making (ranking) vs prediction/forecasting
    • Clarification of concepts: Uncertainty vs ambiguity vs variability vs risk
    • Risk attitudes – what they really are/mean and their impact on aggregate decision-outcomes
  • Fundamentals of Decision-Making
    • Decision Analysis
    • Decision Elements & Model
    • Easy/Hard decisions, Good/Bad Decisions and Incentives
  • How to make Good decisions
    • Advocacy vs structured decision-dialogue
    • Assessing decision quality (DQ) both during and after decision-making process
    • Simplified version of DA
  • Centrality of valid reasoning in making good decisions in complex and uncertain situations
  • Common Biases and Trap in Decision-making: Identification, Explanation and Mitigation
    • Positive Illusions
    • Overconfidence
    • Optimism
    • Anchoring
    • Planning Fallacy
    • Availability, Vividness and Recency
  • Learning from visual judgments
  • Summary of Key Points
Instructor’s Profile

Steve Begg is an oil and gas industry expert on decision-making under uncertainty, including asset and portfolio economic assessments and the psychology of decision-making, particularly bias assessment and mitigation. He is co-author of the book, “Making Good Decisions”, commissioned by the Society of Petroleum Engineers. He is an Emeritus Professor of Petroleum Engineering and Management at the Australian School of Petroleum at the University of Adelaide, where he has worked since 2002. For six years, he was Head of the School. Before joining The University of Adelaide, Steve was Director for Decision Science and Strategic Planning with Landmark Graphics Corporation (a Halliburton company) where he was responsible for leading improved economic evaluation and decision-making for both Landmark and its customers. Earlier, he worked with BP for 13 years, the last 6 of which were spent in a variety of senior geo-science and engineering operational assignments in Alaska, which spanned production forecasting, economic evaluation, petroleum engineering, and reservoir characterization roles. He also spent seven years as a researcher and Project Manager with BP Research, where his focus was on risk and uncertainty assessment related to reservoir modeling. His decision-making expertise is grounded in his understanding of the industry, surface and subsurface.

Steve has published numerous papers on topics such as: decision-making under uncertainty; asset and portfolio investment evaluation/economics; psychological factors in judgement & decision-making (bias assessment and mitigation when eliciting subject-matter-expert opinions’ and uncertainty assessments); and reservoir characterization (heterogeneity/uncertainty modelling and up-scaling). He was instrumental in starting the SPE Economics and Management journal. His contributions to decision-making and economic evaluation have been recognized by receiving the SPE Asia-Pacific regional award, and in 2016 the SPE’s top International Award, for the Management and Information discipline.

Steve holds a PhD degree in Geophysics and a BSc degree in Geological Geophysics from Reading University and has attended executive education short courses at MIT and the University of Texas.

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Join a TIG

 
How detrital zircon is the literal Rosetta Stone of deep marine clastics, revealing provenance, depositional history, and timing. Chaired by John Snedden.
American Association of Petroleum Geologists (AAPG)
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Join a SIG

 
The function of the Visiting Geoscientist Program SIG is to provide college and university students worldwide a balanced picture of geosciences in the petroleum, energy minerals, and environmental industries; provide information about careers in the geosciences; present a positive image of a geoscience professional; and encourage geoscience career options for young scientists of high caliber. These goals will be achieved through direct student contact during college and university visits by active geoscientists. To maintain active status as a VG, each committee member must complete at least one visit per fiscal year. This program is funded through the generosity of the Visiting Geoscientists, their companies, the AAPG Foundation and AAPG.
Show more American Association of Petroleum Geologists (AAPG)
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Join a Committee

 

The purpose of the Committee is to preserve and promote the history and heritage of the evolution of geological concepts and technology used in the search for oil and gas worldwide, and the men and women who are responsible for this evolution.

The committee endeavors to do this by:

  • Facilitating presentations and posters at AAPG conferences.
  • Soliciting and editing papers for publication in the AAPG Explorer and other publications.
  • Facilitating the knowledge of and access to existing key publications.
  • Building and fostering relationships with other key organizations, such as museums and societies, with a common vision.
  • Posting information on our AAPG webpage to facilitate a greater knowledge and appreciation of our history and heritage.
  • Coordinating and participating in the construction of special exhibits.
  • Honoring mem and women who have made pioneering contributions to the concepts and technology of our profession.

The goals of the committee are:

  • For AAPG membership to gain a better appreciation of our personal, technical, and institutional heritage in order to have higher collective pride and self-esteem.
  • For AAPG Members to better find petroleum in the future by having a better appreciation of how it has been found in the past.
  • To strengthen the AAPG by attracting students and retaining young professionals by instilling in them a better appreciation of our history and heritage.
  • To give other sectors of our industry and society in general a better understanding of the realities and challenges of exploring for petroleum.
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Classified Position Available

Associate Director, Environmental Division, Bureau of Economic Geology

The Bureau of Economic Geology (Bureau) in the Jackson School at The University of Texas at Austin seeks a highly talented individual to lead its Environmental Research Division.

Deadlines

30 Nov

AAPG/EAGE 5th Myanmar Oil & Gas Conference – Call for Abstracts Expires in 19 days

Business and Economics, EngineeringAsia/Pacific Region - ...Myanmar
05 Dec

Unconventional Resources Technology Conference 2020 - Call for Papers Expires in 24 days

Business and Economics, EconomicsUnited States - ...Gulf Coast Section - ......Texas
09 Dec

IBA 2020 Call for Applications Expires in 28 days

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