This course covers the fundamental aspects of upstream petroleum economics and risk analysis. It will allow participants to construct computer-based economic models, incorporate relevant cash-flow data and draw conclusions to aid decision-making. It also provides guidance in the application of the techniques of the economic analysis currently used in the oil & gas industry. Techniques for predicting profit, production, costs, and cash flow enable the analyst to evaluate decision alternatives for optimum results. Understanding economic indicators, risk and uncertainty, different economic structures such as tax regimes and production sharing contracts, enhances the quality and the value of economic analysis.
Understanding various economic terms used in the oil & gas industry
Understanding how to develop economic models of various petroleum fiscal regimes
Carrying out cash flow analysis and determine economic indicators
Carrying out different economic analyses for petroleum related projects
Evaluating and quantify risks and uncertainties
Making the right investment decision in the presence of risk
Who Should Attend?
Process operations professionals.
Petroleum & chemical professionals
Oil & Gas Treatment technicians.
Those who are interested in the field
Familiarization with Economic terms.
Calculation of Capex, Opex and Revenue
Cash Flow Calculation
Petroleum Fiscal Regimes
Tax & Royalty Regime
Production Sharing Contracts (PSC)
Nominal & Real Cash Flow
Sunk (Past Exploration)Costs
Present Value & Discount Factor
Net Present Value
Internal Rate of Return
Effect of Project Delay
Capital Productivity Index
Evaluating Incremental Projects
Risks and Uncertainties
Expected Monetary Value
Quantifying Risk and Uncertainty
Decision Tree Analysis
Added Value of Data acquisition
Spider and Tornado Diagrams
Setting up Spreadsheet Calculation
Setting up an Integrated Economic Model of a Typical Oil Field Development Project including Sensitivity Analysis
Setting up Oil Field Development Model
Team Participation to Evaluate Different Project Economics Using the Model
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