Overview of the Petroleum Industry - OVP

Discipline: Multi-Discipline Training
Level: Basic
Instructors who teach this course:
  • Mr. Ron Hinn
  • Mr. Bill Kemp
  • Mr. Gerry H. Ross

Related courses
Basic Petroleum Engineering Practices - BE
Basic Petroleum Technology - BPT
Exploration and Production Process Basics: Understanding the Petroleum Industry Value Cycle - EPB
About the course Designed For You will learn Course Content
About the course
OVP presents an overview of the Petroleum Industry from the point of view of the Asset Life Cycle. Participants will gain an understanding of Exploration, Appraisal, Development and Production phases with particular emphasis being placed on actions they can personally take within each phase to support value creation. Through use of lecture, multimedia and class interactive exercises, a breadth of upstream business acumen will be delivered covering economic, business, geoscience and engineering topics. Discussions will include topics related to all types of resource plays including deepwater, shale oil/gas and enhanced oil recovery technologies.
Designed For
Both technical and business oriented professionals who are either new to the upstream oil and gas industry or experienced in one part, but could benefit from a wider point of view. OVP will likewise deliver for non-industry personnel a broad, basic knowledge set of multiple E&P topics. Legal, Financial, Accounting, Management, and Service Company team members will certainly benefit.
You will learn
  • The critical importance the industry plays on the world's economic stage, including discussions of pricing, global reserves and key short/long-term energy trends.
  • Business and exploration elements critical to the success of organizations in search of new reserves
  • Methods by which new field prospects are evaluated and risk factors assessed (Geology, Geophysics, Petrophysics)
  • How exploration rights are acquired (Land themes, International Concessions)
  • The basic process for drilling and evaluating an exploration well (Drilling, Petrophysics, Testing)
  • Major steps required to appraise a new discovery and estimate its commerciality (Reservoir Engineering)
  • Strategies to maximize the value of an oil or gas field asset
  • How geology and reservoir management plans are used to guide new field development
  • Major steps in the design, construction, and commissioning of facilities
  • Basic technical and operational steps required to produce an oil or gas field (Production Engineering)
  • Types of opportunities to optimize older fields and increase production
Course Content
  • The Business of E&P
  • Hydrocarbon origin
  • Exploration - acquisition of exploration/development rights
  • Exploration - prospect generation & evaluation
  • Appraisal - asset characterization & reserve quantification
  • Development - drilling, completion, & facilities
  • Produce Asset - recovery optimization strategies