Education for the Real World: Equipping Petroleum Engineers to Manage Uncertainty

Abstract

<jats:title>Abstract</jats:title> <jats:p>An accurate assessment of uncertainty is now seen as a necessary starting point from which to make decisions that will create value and/or mitigate loss in value (risk). As such, uncertainty analysis drives the decisions that are made, rather than just being an add-on, or afterthought, piece of "risk analysis". This impacts the way it should be taught - as an integral part of (almost) all technical courses.</jats:p> <jats:p>Unfortunately, university training in petroleum engineering does not reflect this required focus on uncertainty understanding and management.</jats:p> <jats:p>In this paper we discuss the current state of uncertainty management in petroleum engineering curricula. We then propose some essential elements that should be a part every petroleum engineer's educational background and discuss ways to implement these elements into the curriculum without reducing the essential understanding that graduates must have for basic petroleum engineering topics.</jats:p>