The PetroChallenge Involved Simulating US$10 billion of Investment in Different Companies

Created at: 2019-09-06T14:34:37.035Z

The PetroChallenge returned for the second time at the 43rd IPA Convex. This time students and professionals in the oil and gas industry collaborated to invest US$ 10 billion in a number of companies using a series of simulations.  

9 teams participated in the PetroChallenge. Each team comprised four people. The event was sponsored by independent oil companies, service providers, industry associations and authorities globally. This was a problem-based and technology-assisted event.  

During this activity, the participants used simulators commonly seen in the upstream oil and gas industry for training HC, namely OilSlim and NExT. The activity was also guided by instructors from NExT.  

In addition, in this challenge they had to work together to find and develop oil and gas reserves. The results were fantastic, between them they managed to achieve a 400-4000% return on investment and also a US$ 35 billion profit. In the simulations, they also managed to find a potential 17,000 MBOE in a number of assets.  

In the Petrochallenge, the team from Premier Oil and Saka Energy won the first prize. The team consisted of Juliana Mentari (Saka Energi), Theo Pranada (Universitas Pertamina), Fadhil Rhisnanda (Universitas Pertamina) and Rahayu Anjani (Universitas Pertamina).  

While the second prize was won by a team from PTTEP. The team consisted of Muhammad Fikry Shahab (PTTEP), Hamzah Zamzami Mahmud (ITB), Avid Santiko Adji (ITB) and M. Wahid Siddik (ITB).

The third prize was won by a team from the SPE Java Section. The team consisted of Wilson Wiranda (Pertamina EP Asset 3), Handika Lazuadi (UGM), Mhd Rizky Rahmadsyah Lubis (UPN) and Muhammad Raynaldi (PEM AKAMIGAS).