Petroleum Economics (Advanced)
The "Petroleum Economics" course has been developed as a method for analyzing investment and divestment decisions and is based on discounted cash flow. A key challenge of economic analysis is the modeling of fiscal systems which feature a wide variety across the world wide producing countries.
Other challenges are understanding uncertainty and risk and generating useful information for decision makers.
Technical and other senior staff working in oil and gas business.
The course provides participants with theoretical and practical knowledge of basic Petroleum Economics
- Cash flow basics, including time value concept, cost of capital, working capital, inflation
- Government take, including petroleum agreements, production sharing contracts and fiscal systems
- Advanced subjects, including oil and gas prices, Monte Carlo simulation, value of information
- Applications, including decision analysis, exploration economics, decommissioning, farm-in, acquisition and divestment, tariff and other agreements, commerciality of reserves.
- A Finance module, aimed at placing the cash flow analysis within the capital budgeting process.
The course includes classroom exercises to apply concepts and spreadsheet practice and case analysis.
Training courses are offered tailored to client requirements and timing and may be provided in their in-house training facilities.
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