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20 November 2017

There are some notable similarities between mineral and petroleum projects. Both are based on depleting resources and therefore companies are under constant pressure to replace reserves.

The products are commoditised and globally traded on both spot and futures markets as well as being based on long-term contracts (iron ore, coal and gas supplies). These are products that have low demand elasticity, are capital intensive, require long development lead times and are associated with high technical and commercial risk. There are also environmental compliance and regulatory burdens associated with the development of all natural resource projects.

mineral and petroleum geoscience

Background

Mineral and Petroleum Geosciences 

There are some notable similarities between mineral and petroleum projects. Both are based on depleting resources and therefore companies are under constant pressure to replace reserves. The products are commoditised and globally traded on both spot and futures markets as well as being based on long-term contracts (iron ore, coal and gas supplies). These are products that have low demand elasticity, are capital intensive, require long development lead times and are associated with high technical and commercial risk. There are also environmental compliance and regulatory burdens associated with the development of all natural resource projects.

The session identifies the investment opportunities that are being offered across the whole spectrum of the mining cycle by relating this to the various funding options in the progression from exploration through evaluation, pre-production development, development and, finally, into production. It also addresses the similarities of natural resource projects, whether minerals or petroleum, while identifying their key differences

Schedule


Mineral and Petroleum Geosciences

Time
Session
Contributors
09:00-11:00

Petroleum and Coal.
Wessex Basin Petroleum System.  Unconventional Hydrocarbons.

Mike Ala
11:00-11:30 Break  
11:30-13:00

Management of Projects, Markets and Supplies
Quantifying Uncertainty in hydrocarbon production forecasts. Demonstration of the approach needed in calculating recoverable reserves and their associated uncertainty based on monte-carlo simulation and the application to the SPE Petroleum Resource Management System.

Olivier Dubrule
13:00-14:00
Lunch
 
14:00-15:30

Petroleum and Coal.
Organic chemistry. Coalification process. Hydrocarbon formation. Coal versus Gas

D Buchanan
15:30-15:45
Break
 
15:45-17:00

Mineral Deposits
The origin of mineral deposits and Terminology. Strategic minerals. Chemical composition of the Earth’s crust. Geochemically abundant and scarce metals. Mineralogical barrier. Relationship between value and tonnage. Diversity.

D Buchanan

Presenters

Professor Dennis Buchanan (Course Director)

Emeritus Professor of Mining Geology & Senior Research Fellow, Imperial College London 

Professor Buchanan works jointly between the Department of Earth Science and Engineering and the Business School at Imperial College London and will act as the Course Director.   

Professor Buchanan's current research interest lies in addressing the underlying technical principles applying to mineral projects and demonstrating how these influence financial modelling. He has 36 years’ experience teaching mining geology, mineral exploration and mineral project appraisal and is responsible for the MSc in Metals and Energy Finance.  This is a joint degree between the Department of Earth Science and Engineering and the Business School at Imperial College. Professor Buchanan has worked as a Mining Geologist in both gold and platinum mines in South Africa and had wide experience as a consultant to industry, as an expert witness and in designing and delivering short courses for industry

Dr Michael Ala

Honorary Lecturer, Imperial College London

Dr Michael Ala has been closely associated with the oil industry for more than 35 years as an exploration geologist with an independent oil company, a consultant, provider of training programmes worldwide and an academic at Imperial College since 1981. His main interests include basin studies, controls on the occurrence and global distribution of both conventional and unconventional oil and gas resources. His publications include more than 60 research and review articles and he remains engaged in the industry, holding non-executive directorships with companies involved in exploration and oil and gas field development activities in North Africa and Middle East.

Olivier Dubrule
Professor of Petroleum Geostatistics, Imperial College London 

Olivier Dubrule obtained a PhD Degree in Petroleum Geostatistics at Ecole des Mines de Paris in 1981.  After managing the Total Geosciences Research Centre (Aberdeen, UK) and the Total Research Centre – Qatar (Doha, Qatar), Olivier became Total Vice-President of Geosciences Training and Technical Image in Pau (France) in January 2012.  In November 2014, Olivier was seconded by Total at Imperial College where he is currently Professor of Petroleum Geostatistics. Olivier is the author of AAPG Course Notes Series #38 "Geostatistics in Petroleum Geology", of SEG/EAGE course notes “Geostatistics for Seismic Data Integration in Earth Models”, translated in Farsi and Russian. He was the 2004-2005 President of EAGE (European Association of Geoscientists and Engineers).

 

Comments from past participants

Very satisfied with this course – I now have the key tools to work with as I progress my project"

It provides tools for evaluating mineral projects and critical business decision making "