301762 (v.3) Risk and Uncertainty 616

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Area:	Department of Petroleum Engineering
Contact Hours:	10.0
Credits:	25.0
Lecture:	1 x 20 Hours
Tutorial:	1 x 20 Hours
Properties and Applications of Probability Distributions, Appraisal of Uncertain Ventures, Simulation - Monte Carlo Method, Decision Trees and Economic Models, Evaluation of Expected Discoveries in Mature Regions, Bayes Strategies and Estimates of Value, Risking of Hydrocarbon Reserves.