Code Date Venue Early Bird Fee Fee
PE1431 29 Nov - 03 Dec 2021 Virtual Instructor Led Training (VILT) SGD 3,499 SGD 3,699 Remind me of Course Dates
PE1431 29 Nov - 03 Dec 2021 Virtual Instructor Led Training (VILT) USD 2,699 USD 2,899 Remind me of Course Dates

Learn in teams and save more! Enjoy group discounts of up to 50% off normal fees for team based learning. Contact us on to learn more today!




29 Nov - 03 Dec 2021


Virtual Instructor Led Training (VILT)

Early Bird Fee

SGD 3,499


SGD 3,699




29 Nov - 03 Dec 2021


Virtual Instructor Led Training (VILT)

Early Bird Fee

USD 2,699


USD 2,899

About this Virtual Instructor Led Training (VILT) 

A decision to drill an exploration well with the objective to find a new oil or gas field must be based on sound assessment of the prospect risk and of the volumes. What is the chance that a well will find hydrocarbons, and how much could it be? Risk and volume assessments form the basis for decisions to drill a well or not, and as such form the link between subsurface evaluation and the business aspects of the petroleum industry.

This Virtual Instructor Led Training (VILT) course explains how risks and volumes can be assessed in a realistic manner, based on a sound understanding of the geological details of the prospect as well as its regional geological setting and current play understanding.

Participants of this VILT course will receive a softcopy of Risk and Volume Assessment Handbook which explains the concepts that are associated with probabilistic Risk & Volume (R & V) Assessment and contains many practical recommendations on how to translate geological understanding into meaningful inputs for probabilistic R &V assessments. The book is fully compatible with any probabilistic R & V tool in the industry.

By the end of this VILT course, participants will be able to understand:

  • The fundamentals of risk and volumes assessment; translating geological understanding into reasonable numbers and ranges.
  • The difference between risk and uncertainty.
  • Fundamentals of statistics; including explanation of distribution curves, understanding of expectation curves, do’s and don’ts for adding risked volumes, and Bayes theorem.
  • Uncertainty of trap, reservoir, seal and charge, illustrated by examples.
  • Guidelines and exercises for estimating risks realistically and consistently.
  • Calculating volume ranges for prospects and for portfolios of prospects; how to add prospect volumes for a correct representation of prospect portfolios.
  • Incorporation of geophysical evidence (DHIs) in a realistic risk assessment.

This VILT course has been designed in the first place for geoscientists working in exploration, for prospect portfolio analysts and for their direct supervisors. It will also benefit staff from disciplines working closely with exploration staff, such as reservoir engineers, petrophysicists and geophysicists.

Learning, methods and tools

The VILT course will be delivered online in 5 half-day sessions comprising 4 hours per day, with 2 breaks of 10 minutes per day. It is the intention to have at least 2 smaller exercises per day. Time will be reserved for recapitulation, questions and discussions.

VILT will be conducted either via Zoom or Microsoft Teams. Presenting materials can easily be done on this platform. When participants need to ask a question, they can raise their hand, write notes or interrupt the Instructor by using their microphone. The presenter can switch to a screen where he/she can see all participants (also when each participant is sitting in another location e.g. at home). There is also a whiteboard functionality that can be used as one would use a flip chart. Exercises will be done on an online platform which provides each participant with a private work area that can be accessed by the Instructor to discuss the exercise in a similar manner as in a classroom course.

Each topic is introduced by a lecture, and learning is re-enforced by practical exercises and discussions. Handout material in electronic format will be provided.

Dr. Jan de Jager has a PhD in Geology from the University of Utrecht. He joined Shell in 1979 as an exploration geologist, and worked in several locations around the world such as Netherlands, Gabon, USA, Australia, Argentina, and Malaysia in technical and management positions. During the last 10 years of his career, he was responsible for the quality assurance of Shell’s exploration prospects in many parts of the world and for upgrading and replenishing Shell’s global exploration portfolio. During this period, he had also developed extensive expertise in Prospect Risk and Volume assessments for which he ran successful internal training programmes. Following his retirement from Shell in 2010, Dr Jan de Jager took on a position as part-time professor at the University of Amsterdam and also serves as a consultant exploration advisor for various E&P companies.

Learn what past participants have said about PetroEdge training courses

This is a very good topic. The training provided step by step knowledge about every aspect that can affect prospect calculation.

Geophysicist, Star Energy

Great course. The course is very interesting and relevant to current exploration practices

Subsurface Analyst, Woodside

Very good training. Comes with a complete module on how to assess prospect risk as well as to estimate POS & Volumetrics

Geologist, Medco Energi

Very helpful course. Thanks a lot.

Geophysicist Assistant, National Petroleum Authority (ANP) – Timor Leste

Very knowledgeable trainer.

NV Manager, JX Nippon

It was very helpful training for me and it opened new horizons that helped to further enhance my knowledge.

Sr. Geologist, Oil & Gas Development Company Ltd (OGDCL)

This wonderful step-by-step building up skills for maturing prospector surely lead to a reasonable and balanced decision for future E&P projects.

Professor, Chungbuk National

Good materials, clear hands-out and good exercises too.

Reservoir Engineer, Brunei Shell Petroleum Sdn. Bhd

The course is really good and provides us with further understanding and a more standardised way to mature our prospect. All aspects are covered in geology from engineer to economics.

Geologist, Brunei National Petroleum Company Sdn Bhd

The trainer’s vast knowledge and skills, coupled with his excellent presentation and communication skills are what brought this course to life.

Geoscientist, Petronas Carigali Sdn Bhd