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Introduction To Petroleum Engineering - Lecture 3 - 12-10-2012 - Final PDF
Introduction To Petroleum Engineering - Lecture 3 - 12-10-2012 - Final PDF
Course Outlines:
What is Petroleum Engineering? The Life Cycle of Oil and Gas projects, Origin, formation and accumulation of Petroleum, Oil & Gas Exploration, Appraisal of Oil & Gas Discoveries, Development of Oil & Gas Discoveries, Producing Oil & Gas Fields, Transportation of Oil & Gas, The Petroleum Industry & the Environment, Petroleum Economics.
Year 2012 - 2013
Any prospect with less than 10% probability is a very risky prospect. During exploration phase there is a big uncertainty regarding the size of any possible discovery.
Probability vs Risk