Ekaterina Vekshina, an expert from Gazprom EP International, was awarded the 3rd degree diploma in Petroleum Geology and Geophysics for the project “Integrated Approach Based on Value of Information and Risk Aversion Theory to Optimize Exploration Decisions” at the Science and Technology Conference of the 6th Future Leaders Forum.
The project touches upon the practical basis for applying the Value of Information approach to optimize exploration decisions and risk mitigation. The Value of Information approach is particularly topical in the context of global trend of field development with complex geological conditions, high uncertainties at the early stages of exploration, and increased exploration costs in the remote regions and on the shelf. It allows estimating added value of each exploration study, developing an optimum exploration program and identifying its sufficiency. Moreover, this approach allows improving project risk identification and subsequently developing optimum exploration and appraisal program based on the decision tree.
“Alice from the Lewis Carrol’s book once noticed that we must run as fast as we can, just to stay in place, and if you wish to go anywhere you must run twice as fast as that. This principle is very important for the fast-growing petroleum industry. The Science and Technology Conference is an excellent opportunity to gain new knowledge on global industry trends, innovative technologies and updated approaches to problem solution as well as to exchange views with the colleagues from the petroleum community”, said Ekaterina.
The 6th Future Leaders Forum of the World Petroleum Council was held on 23-28 June 2019 in the Multifunctional complex “Gornyi” which belongs to the Saint Petersburg Mining University.The organizer of the event in St. Petersburg is the Russian National Committee of the World Petroleum Council (RNC WPC).
Gazprom EP International is the sole specialized enterprise for implementing Gazprom's projects in the areas of prospecting, exploration and development of hydrocarbons. The company is currently involved in nearly 40 projects of different scale in 20 countries across three continents.
The Future Leaders Forum of the World Petroleum Council is one of the main events in the petroleum industry and usually held once every three years in one of 70 member-countries of the World Petroleum Council. It represents a unique platform for experience and ideas sharing, deepening knowledge in advanced technologies and achievements of the industry, developing new skills, becoming part of the international network of young energy professionals. The Forum targets to host about 2000 young specialists, students and post-graduate students. This event gives participants an opportunity to address the challenges the industry is facing now, to strengthen collaboration with the world energy leaders and experts.