Petroleum Economics Training

From $5250 per attendee

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Course Description

Petroleum Economics Training Course

Aimed at the more senior manager or technical operative, this advanced course on Petroleum Economics combines the review, appraisal and evaluation of a wide variety of techniques that are brought together under the heading of petroleum economics.

It is assumed that all delegates will have a good grasp of the main areas to be discussed and applied during the programme in keeping with the nature and level of the materials to be presented.

This course is highly interactive and paticipative and Excel spreadsheet templates and financial modelling best practice will be used rigorously throughout. Delegates will be required to apply best practice at all times and to work with the trainer and their fellow delegates on solving problems from the materials provided and their problems at work.

The mini case concept is a unique feature of our training: a mini case is a real live problem that delegates bring to the training room looking for assistance in providing a solution to their problem. Without any guarantees, we are confident that all usch problems will be solved during the five days of this course.

This course draws on the use of Excel, spreadsheeting including the exploration of such techniques as Monte Carlo Simulations, Decision Tree Analysis and  Multi Variable Sensitivity Analysis.

 

 

 

 

 

Course Content

Day 1: Project Economics  

  • Review of project economics
  • The project lifecycle and who is involved

  • Common types of oil and gas upstream projects
  • The concepts and methods of forecasting

Day 2: Cash Flow and Economic Indicators  

  • Cash Flow Forecasting and Analysis
  • The time value of money

  • The cost of capital

Day 3: Fiscal Regimes  

  • Introduction to the main types of fiscal regimes around the world
  • Building cash flows for
  • Reviewing different types of service agreements

  • Comparison of investments under different fiscal regimes
  • Current trends in fiscal regimes around the world

Day 4: Project Investment Analysis  

  • Discuss and incorporate risk and sensitivity analysis in order to calculate
  • The purpose of incremental investment analysis

  • Prepare, analyse and make decisions based on general capital budgeting and the project selection process
  • Evaluate and make recommendations about potential oil and gas investments

Day 5: Budgeting and Scenario Management for Project Management  

  • Setting forecasts, targets and budgets: what they are and why we need them

  • Alternative budgeting systems and approaches: what they are and which to choose
  • Scenario Management

 

Who Should Attend

Anyone requiring a more advanced understanding of Petroleum Economics and oil and gas project recommendations

  • Petroleum engineers
  • Chemical engineers
  • Non financial managers seeking to upgrade the economics skills

  • Marketing and Sales Staff
  • Distribution staff
  • Financial staff in need of a refresher in the economics of petroleum

 

 

Focus Areas

Identify all elements of a project lifecycle and say who is involved

Review the common types of oil and gas upstream projects

 

Appreciate and apply the concepts and methods of forecasting

Set up and use a cash flow forecast

Apply the concepts of the time value of money

Review the main types of fiscal regimes around the world and evaluate them

 

Discuss and incorporate risk and sensitivity analysis

Prepare, analyse and make decisions based on general capital budgeting and the project selection process

 

Evaluate and make recommendations about potential oil and gas investments

 

Use and evaluate Budgeting and Scenario Management for Project Management

Consider alternative budgeting systems and approaches: what they are and which to choose​