This module will provide participants with a solid all-around grounding in the technologies, concepts, methods, and language used in upstream oil and gas projects. The technical and commercial building blocks of oil and gas projects will be examined, and how a venture progresses; from the point of acquiring a license, through exploration, appraisal, concept selection, and the development phase, into production, late field life, and finally decommissioning. The link downstream is bridged with a discussion on refining and the LNG business. Participants will learn to appreciate the impact of geological and reservoir uncertainty on concept selection and production management, and how the right combination of technology, business processes, and decision-making can improve project value . Towards the end of the program, the critical roles of the many different disciplines and stakeholders involved in upstream projects will be discussed. The commercial aspects of how oil and gas fields are evaluated and which profitability indicators are used to screen and rank projects will be analyzed.