Petroleum Value Chain Decisions: Introductory Course

Petrad’s Petroleum Value Chain Decisions: Introductory Course provides an overview of the petroleum sector in terms of its key work processes and business context. 

Next course: 5th-8th March 2019

Please complete enrollment form found here

Topics and course objective

The course has its focus on the “upstream” part of the petroleum value chain, where petroleum is found and extracted from the ground. It lays out the life cycle decisions of petroleum resources from exploration through development and production to decommissioning. It briefly reviews the geological, environmental, technological, social and economic contexts. The challenges of governing the sector are in focus. As learning objectives, the course shall let participants acquire the following insights:

  • Understand the major elements and decision points of the petroleum resource life cycle;
  • Recognize the significance of geological and environmental conditions, technology, safety imperatives and market conditions for petroleum operations;
  • Basic petroleum economics and risk assessment/management.
  • Fiscal system in petroleum resource management

Who should attend

The Petroleum Value Chain course is designed primarily for those who will subsequently participate in the 2-weeks course in National Management of Petroleum Resources and whose prior knowledge of the industry may be limited to certain parts of it. The course can also be taken as a stand-alone course.

The course is intended to benefit anyone who will be engaged with the petroleum sector in a commercial, regulatory or civil capacity. It can benefit people who work in the energy and mineral sectors. No prior knowledge specific to the petroleum sector is required.  The course is also suitable for persons who have worked with these sectors from some time and wish to broaden their understanding of it beyond their own professional focus.

It is recommended that participants have a university degree and some years of professional experience, not necessarily from the petroleum sector.  Participants must be able to understand and speak reasonable English.


This is delivered either scheduled by Petrad or by request. The standard duration is four days but could be extended to one week. 


If your institution is interested in having the course, contact us to discuss possibilities and costs:

Kim Chi Tran-Gulbrandsen, Project Director Petrad,  


Berit Tvedt has a broad petroleum industry experience, having worked more than 30 years in Norwegian government and NOC institutions. She holds a Master's Degree in Economics from the University of Oslo. She joined the Norwegian Petroleum Directorate (NPD) in 1985 and had management positions within exploration/concession round economics and field development economics. She moved to Statoil in 1990 and has extensive experience from management positions in all phases of the exploration and production value chain, including 13 years abroad within exploration and business development, focusing on offshore opportunities in countries such as USA (Gulf of Mexico), Canada, Alaska, Brazil, Venezuela, Mexico and Azerbaijan. She returned to Norway in 2013 and joined Petoro at the end of the year. She worked for Petoro until February 2016 as license manager and was in charge of a portfolio of Petoro licenses offshore Norway, including producing fields, on behalf of the SDFI (the State's Direct Financial Interest). She is a member of the Board of Petrad and is currently acting as Managing Director of Petrad.

Sigurd Heiberg holds a BSc from the University of California and a SM degree from the Massachusetts Institute of Technology. He has also received formal management training at IMD on international management and High-Performance Boards. Sigurd has spent most of his working life in Government and industry working on petroleum resources management and strategy, both as Deputy director of resource management responsible for development and production at the Norwegian Petroleum Directorate, as Petroleum exploration advisor to the Minister of Water, Energy and Minerals of Tanzania and as a member of Statoil’s Corporate strategy team. He joined Petrad as a Project Director in 2017. 

Frian Aarnes is a State Authorized Public Accountant from the Norwegian Business School of Economics. He is an internationally recognized expert within tax and extractive industries and author of several publications – invited as key speaker at various international conferences. He has been involved in compliance work in his whole career and policy work since he led the Tax Committee in the Norwegian Oil and Gas Association for two periods in 1999-2003. His compliance and policy experience covers both private and public sector. Through developing and applying economic models for tax and economic purposes, he has developed a keen understanding of economics and finance. Models have been applied globally, and through an extensive work in the taxation area he has become an international expert in most aspects of international taxation, compliance and fiscal instruments. He has developed analytical tools for benchmarking fiscal systems. Through a unique set of circumstances he has got an insight into extractive industries that few can match; transfer pricing, cross-border mark-to-market, international tax rules, global transactions, derivatives, asymmetrical capital gains and losses as well as litigation, tax appeals, tax assessments, tax returns, tax compliance, tax and contract law (on par with lawyers), global tax planning, tax implementation, tax audits and internal control.


Petroleum Value Chain Decisions: Introductory Course- Information brochure