Four S6 pupils recently competed in the
highly competitive world of the oil industry. Working with a budget
of $200,000,000 they had the opportunity to explore and drill for
oil - and ended up making more money than they ever dreamed of.
Unfortunately it was a simulation and they didn't get to take any
money home with them!
Thirty teams from all over the north-east were taking part in OilSim
2008 - a simulation game used all over the world to give students a
taste of the skills needed to be successful in the oil industry. In
OilSim the teams learn by taking on the role of an exploration team
that has entered the emerging petroleum exploration industry in a
fictitious archipelago. Their task was to discover economically
viable volumes of oil or gas. The team competed against and
collaborated with other teams and gained an effective insight into
the risks and challenges of petroleum exploration.
Dealing with masses of data from magnetic surveys to geological
surveys, the team had to identify blocks of seabed that might
contain oil, bid competitively for them, get other teams to buy into
a percentage of the field then drill for oil. The Hazlehead team of
Hannah, Paul, Kenneth and Russell did very well in the morning
session but a promising block they successfully bid for in the
afternoon turned out to be a dud with no oil in it at all! Never the
less, their organisational skills showed they have what it takes
even though their bad luck in the afternoon meant they finished 13th
out of 31 teams. Meldrum Academy finished first. They still managed
to turn their original $200,000,000 into $1,056,000,000.
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