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Introduction to Process Safety for Upstream Oil & Gas Featured Image

Introduction to Process Safety for Upstream Oil & Gas

The purpose of this course is to introduce engineers and other professionals to the basic principles of risk-based process safety management. Through text, brief videos and games, students will learn how these principles can be applied to the upstream oil and gas industry to reduce risk and prevent injuries & environmental incidents.

Value of Information Featured Image

Value of Information

The learner will analyze the economic "value of information" that can be achieved during the exploration process by applying various technologies at progressively higher costs to reduce uncertainty, thereby providing better estimates during the decision process. The objectives of this course are to: measure the value of data vs. the cost to acquire the data, determine multiple data acquisition scenarios that can accomplish the goals and measure their impact on the prospects economics, and understand the cost-benefit decision process and exploration uncertainty in making both technical and business decisions.

Understanding and Managing Budgets Featured Image

Understanding and Managing Budgets

A budget is a detail of expenses and incomes for a set period of time. This introductory-level course covers budgets and how they are used in organizational settings including the uses and functions of master budgets, operating budgets, sales, production and cost of goods sold budgets, and cash budgets. You will also learn about the budgeting process, and how organizations are using different budgeting techniques to overcome operating challenges.

Time Value of Money and Risk Featured Image

Time Value of Money and Risk

Is a dollar more valuable today or tomorrow? What about a year from now? This introductory-level course covers time value of money (TVM) principles and risk and return. You will review the basic TVM techniques used in evaluating all financial decisions and their cash flow implications. For Risk and Return, you will learn how risk influences investment decisions, and how to calculate risk and rates of return. Further, you will explore the benefits of diversification and the use of the portfolio concept in investing.