17–21 Aug · Rio 14–18 Dec · London 5 Days 5-Star Hotel
About This Course
Course Overview
The petroleum industry is complex, expensive and uncertain. Success depends on smart choices and sound economic reasoning. This course helps professionals make better decisions using clear insights — from economic models to risk and uncertainty analysis — built specifically for oil, gas and energy investments.
By integrating financial principles, industry policies and advanced scenario planning, participants gain the skills to make prudent project decisions, tackling the challenges of decision-making in the upstream oil and gas industry through project decision analysis, economic evaluation and policy analysis. The course uses Lumivero's DecisionSuite Tools (@Risk and PrecisionTree), though no prior software access is required.
Led by Dr. Babak Jafarizadeh — engineering economist and former Senior Economic Analyst at Equinor (Statoil) — the programme blends real-world industry experience with rigorous theoretical frameworks. Sessions are held at five-star hotel venues in Rio de Janeiro and London in 2026.
Programme Content
Key Topics
01
Industry Structure & Decision Context
Global energy trends and geopolitical factors
The hydrocarbon industry: from subsurface to markets
Industry competition and the emerging energy transition
Value chain economics underlying petroleum decision-making
Expected value concept and systematic approaches to uncertainty
Decision analysis: framing choices and evaluating trade-offs
02
Financial Economics & Cash Flow Models
Market-based approach to investment decision-making
Investment decision techniques: NPV, IRR and payback period
Sensitivity analysis in project economics
Energy commodity markets and their insights for valuations
Commodity price forecasting and cash flow projections
Case study: evaluating the economic feasibility of an offshore oil field
03
Uncertainty Analysis & Quantitative Methods
Uncertainty versus risk in petroleum project evaluation
Probabilistic reserves in valuations
Risk classifications: market, political, technological and operational
Sensitivity analysis in project assessments
Decision trees and real options valuation in petroleum projects
Case study: Excel-based Monte Carlo modelling for reservoir uncertainty
04
Strategic Planning & Policy Economics
Economic impact of energy transition policies
Petroleum fiscal regimes: taxes, royalties and contracts
Policy incentives and tax structures shaping investment economics
Corporate strategy responses to industry volatility
Scenario planning and stress testing for strategic adaptability
Case study: investing in an offshore field development project
05
Practical Applications & Project Presentations
Monte Carlo simulations for probability-based decision-making
Using spreadsheet add-ins: Lumivero @Risk and PrecisionTree
Integrating economic, financial and risk frameworks
Evaluating long-term profitability: capital allocation and risk mitigation
Future trends: carbon markets, ESG and sustainable energy investments
Capstone: presenting an investment recommendation based on course methodologies
Learning Outcomes
What You Will Learn
By the end of this masterclass, you will be able to:
01Explain key aspects of the evolving energy landscape and its implications for oil and gas ventures
02Summarise the fundamental principles of petroleum project economics and valuation techniques
03Analyse the impact of risk and uncertainty on management decision-making
04Apply consistent financial valuation techniques to analyse petroleum projects
05Use analytical tools and software, including Monte Carlo simulation, for project evaluation
06Create decision support models that weigh uncertain hydrocarbon prices and environmental considerations
Dates & Pricing
Sessions & Fees
All sessions are held at five-star hotel venues. Classroom only — no virtual option.
Dates
Location
Format
Fee
17–21 Aug 2026
Rio de Janeiro, Brazil
Classroom
£3,900 (no VAT)
14–18 Dec 2026
London, UK
Classroom
£3,900 (+20% UK VAT)
Target Audience
Who Should Attend
This masterclass is designed for finance, engineering and project professionals evaluating upstream petroleum investments under risk and uncertainty.
Finance Professionals
Finance specialists evaluating and managing upstream petroleum investments
Petroleum Engineers
Engineers seeking a grounding in the economics and risk analysis of their projects
Project Managers
Managers responsible for petroleum project viability, risk and financial performance
Petroleum Industry Executives
Decision-makers needing deeper understanding of project economics and risk
Analysts & Consultants
Professionals providing economic analysis and advisory to oil and gas companies
NOCs & IOCs
Upstream professionals in national and international oil companies
Common Questions
Frequently Asked Questions
What does the course cover? +
Industry structure and decision context, financial economics and cash flow models, uncertainty analysis using Monte Carlo simulation, strategic planning and policy economics, and a practical project-presentation capstone.
Who is the course trainer? +
The course is led by Dr. Babak Jafarizadeh, a senior consultant and engineering economist with extensive experience as a senior economic analyst at Equinor (formerly Statoil). He holds academic appointments at Heriot-Watt University and UC Berkeley, and is the author of Economic Decision Analysis (for Project Feasibility Studies).
Where and when are the 2026 sessions? +
2 sessions: 17–21 August in Rio de Janeiro, Brazil; and 14–18 December in London, UK.
What is the course fee? +
Classroom fee is £3,900 per delegate. The London session is subject to 20% UK VAT. No VAT on Rio de Janeiro session.
Is a virtual option available? +
No — this course is delivered classroom-only at five-star hotel venues.
Can this be delivered in-house? +
Yes. Contact j.rogus@londonpetroacademy.co.uk for a tailored in-house proposal.
All London Petro Academy courses are available as fully customised in-house programmes delivered at your premises, or in Rio de Janeiro, London or any location worldwide.
