Tuesday, May 21, 1:00pm

Mr Takeshi Nakanishi

PhD Candidate, NCPGG, The University of Adelaide
 

An introduction to uncertainty and risk in petroleum exploration  
 

Abstract

Petroleum exploration is an investment and the aim is to get a profitable return. However, there are many aspects that introduce uncertainty and therefore increase the risk of losing capital. I will talk about behaviours of the uncertainty and risk in the exploration business and how to deal with them. The agenda is as follows,
Uncertainty or risk
Is uncertainty bad?
Chance of success
Risk diversification and portfolio construction
Difference in exploration and development stage
Communications

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Biography of the Speaker

Takeshi Nakanishi obtained his BSc in 1990 and MSc in 1992 from Osaka City University (Japan). His MSc focussed on the sedimentary systems in the Miocene fan deltas and submarine channels in southwest Japan. Since 1992 he has worked for Japan National Oil Corporation on geologic evaluation projects in the East China Sea, the North Sea, East Siberia, northern Japan and the Campos Basin, Brazil. In 1998 he was assigned to the risk analysis team and contributed to establishing a procedure for the analysis of geologic and economic risk in exploration projects. Takeshi is now undertaking PhD studies at NCPGG, focussing on a practical application of sequence stratigraphy and risk analysis for stratigraphic trap exploration. He is a member of PESA, the Japanese Association for Petroleum Technology, and AAPG.