AAPG's Imperial Barrel Award Program (IBA) is an annual prospective basin evaluation competition for geoscience graduate students from universities around the world. University teams compete to win scholarship funds for their geoscience department and the international recognition that comes from competing or winning in the competition.
In this global competition, university teams analyze a dataset (geology, geophysics, land, production infrastructure, and other relevant materials) in the eight weeks prior to their local competition. Each team delivers their results in a 25-minute presentation to a panel of industry experts. The judges will select the winning team on the basis of the technical quality, clarity and originality of presentation.
-From AAPG IBA website