Workshop 5: Value of Information for Geothermal Exploration

9:00 AM - 5:00 PM | Saturday, October 26, 2024

The aim of this workshop is to familiarize attendees with methods for quantifying uncertainty and risk for geothermal resources. Participants will learn how to use an open-source software to upload labeled data sets and transform the results into value of information (VOI) metrics. The course will cover decision analysis principles to understand how VOI, which can guide scientists and management on future data collection efforts.

Industry leaders in this field will present their work, to illustrate where the sector stands to date in terms of resource-based risk analysis. A number of decision makers from the industry will also be invited to participate in a round table discussion to help sharpen the focus of future development in this field.

OBJECTIVES

• Introduce of Decision Analysis (DA) and Value of Information (VOI) concepts
• Provide Geothermal Field Examples
• Demonstrate calculation of DA and VOI via open-source VOI software

TARGET AUDIENCE/PARTICIPANT INFORMATION

• The workshop is intended for both students and professionals, no matter their background.
• Attendees will learn how to use the open-source VOI software with publicly available data.
• Attendees are encouraged to bring their own “labeled” datasets.

Lunch and break service are included in the workshop registration fees ($575).