A profitable business in the oil and gas industry depends on achieving a positive net cash flow. Energy price is one of the main controlling factors of oil and gas revenues. The volatility in energy prices has encouraged oil and gas companies to diversity portfolio and has increased their need for measuring the risk involved and accounting for it in their future predictions. Uncertainty has been always guaranteed in the oil and gas industry. Uncertainty exists in both surface and subsurface parameters. For a better decision-making, one should understand the uncertainty in these parameters and their associated risks. Several aspects are covered in this area including cash-flow analysis, energy prices modeling, cost drivers, cost optimization, risk analysis and management techniques, profitability indicators as enablers for decision making, uncertainty in economic evaluation of an investment, macro- and micro-economic effects, delivery schedule, technological disruptions, and environmental regulations.
Very comprehensive project involves several fronts related to energy resources and impacts. This project aimed at bringing a genuine innovative ideas rather than the classic industrial and applied research type.