An Intensive 5-day Training Course
Economics of Petroleum Exploration
Scheduled Dates
Classroom
27 - 31 Jan 2025 | London - UK | $5,950 | RESERVE A SEAT |
26 - 30 May 2025 | Dubai - UAE | $5,950 | RESERVE A SEAT |
27 - 31 Oct 2025 | London - UK | $5,950 | RESERVE A SEAT |
Online
27 - 31 Oct 2025 | Online | $3,950 | RESERVE A SEAT |
Are the scheduled dates matching with your needs?
We provide a wider range of training options. Tailored and customized, we can deliver your organisation’s training needs anytime, anywhere.
Why Choose this Training Course?
Economics drives the entire oil/gas industry. Almost every decision is made on the basis of an economic evaluation, performed to determine the value and ranking of competing projects. In many cases, the goal of the company is to make decisions that have the best chance of maximizing the present day profit.
Economics of petroleum exploration involves the application of economic analyses in the development of oil and gas exploration and production. The economics of oil and gas projects are affected by a variety of factors, including the location of the oil or gas field, the type and number of wells, market conditions and the fiscal regime i.e. the tax & royalty systems in place. By analyzing these factors, petroleum economists are able to make investment decisions such as whether or not to drill an exploration well or whether or not to develop an entire petroleum production project. The training course will enable the participant to make crucial decisions in negotiations involving Production Sharing Contracts PSC’s and purchasing oil and gas properties.
This training course will feature:
- The theory of upstream petroleum economics based on the time value of money
- How oil and gas economics are essential for comparing values of competing projects
- Critical evaluation and appraisal of the opportunities and challenges of this pivotal sector of the energy industry
- The assessment and management of the technical, economic and other risks associated with the different phases of an oil or gas projects
- An understanding and critical awareness of the principles, theory and practice of how economic analyses are performed
- A comprehension of the machinations of the international oil and gas industry
- Focusing on management interpretation of the diversity of fiscal arrangements and PSC’s
- Applying a judicious overview of contemporary issues like climate change and environmental concerns in exploration and development
What are the Goals?
By the end of this training course, participants will be able to:
- Calculate the key economic metrics used in investment decision making
- Appreciate the geological and engineering inputs to the cash flow model
- Understand oil and gas pricing and forecasting
- Build Excel-based economic models in both tax/royalty and production sharing contract fiscal systems
- Apply the principles of Oil and Gas economics to decision making relating to field development options
- Understand development options (including modelling cash flows, profitability and risk indicators, net present value, and investment appraisal), incremental analysis and economics
- Understand and manage the key characteristics of the oil and gas industry and activities
Who is this Training Course for?
This training course is suitable to a wide range of professionals but will greatly benefit:
- Commercial and finance professionals and managers
- Oil and Gas Planners and Financial Analysts
- Oil & gas field personnel, operations and maintenance technicians, and engineering trainees
- It is also of benefit to other support staff who have an interest in increasing their understanding of the oil & gas economics
How will this Training Course be Presented?
The daily sessions will be highly interactive and participative, involving regular discussions and trainer encouraged participation. The training course will include exercises aimed at enhancing the participant’s ability to address topics in oil and gas economics. Short videos and exercises will be presented during the training course to enhance the participants’ knowledge of the oil & gas field economics. Interactive training methods will be used including practical exercises, case studies, question and group discussions to cover current practices in the field. Presentations underpinning the daily topics will be used to highlight the key issues. The training manual will support the learning experiences and provide additional reference materials and examples.
Daily Agenda
Day One: Oil & Gas Economics
- Introduction to Energy Finance and Economics
- Geopolitics and world Oil and Gas markets
- Overview of world petroleum consumption and supply
- Oil and Gas prices and prospects for the future
- Transportation of Oil and Gas
- Storage of Oil and Gas
Day Two: Oil & Gas Value Chain
- Adding value: The refining process & Petrochemicals
- Petroleum products
- Sales and marketing of oil and gas products
- Netback Calculations
- Reference pricing
- OPEC and the future role of a cartel
Day Three: Oil & Gas Principles of Development Economics
- IOC's v’s NOC's and Fiscal regimes
- Basic Principles of Development Economics
- Financing and financial performance
- Financial and Economic Analysis in the Energy Industry
- Financing Large Energy Projects
- Economics of a field development
Day Four: Oil & Gas Project Cash flow
- Conducting a Project Cash flow
- Calculating a discounted cash flow
- Profitability indicators
- Project screening and ranking
- Project Sensitivity analysis
- Case study: Exploration economics
Day Five: Oil & Gas Derivative Markets and Hedging
- Hedging of financial risks of oil and gas projects
- Forward, Futures, and options
- Real-option evaluation analysis and Energy trading commodities risks
- How do oil and gas companies handle operational risks?
Certificate
- On successful completion of this Training Course / Online Training Course, a PetroKnowledge Certificate / E-Certificate will be awarded to the delegates.
Frequently Asked Questions
Why PetroKnowledge?
PetroKnowledge is a globally recognized provider of training courses for oil and gas professionals, offering a wide range of specialized training courses designed to enhance knowledge, skills, and expertise in the energy sector. With courses tailored to meet the evolving demands of the oil and gas industry, PetroKnowledge helps professionals stay up-to-date with industry standards, technological advancements, and best practices.
Who are these training courses designed for?
Our courses are specifically developed for professionals in the oil and gas industry, including engineers, technical staff, managers, and other specialists looking to advance their careers. Whether you’re a seasoned expert or new to the sector, our training for oil and gas professionals is suited to individuals at all stages of their professional journey.
Are the courses delivered online or in person?
PetroKnowledge offers flexible learning solutions with both online courses and in-person training options. Online courses for oil and gas professionals provide the flexibility to learn from anywhere, while in-person courses offer a hands-on, interactive learning environment. Each training course page provides detailed information on the delivery format, allowing you to choose the option that best meets your learning style and schedule
Can I get a customized training course for my team?
Yes, PetroKnowledge offers customized in-house training solutions for organizations looking to upskill their teams. We work closely with companies to design bespoke training courses for oil and gas professionals that address specific challenges and objectives. Whether you need on-site training or online solutions, we can tailor the training courses to suit your organization’s needs.
Are there any prerequisites for attending a course?
Certain advanced training courses for oil and gas professionals may require prior experience or technical knowledge. These prerequisites ensure that participants can fully benefit from the course content. We recommend reviewing the course description on the relevant page to determine if any prerequisites apply to your selected course.
How can I enroll in a course?
Enrolling in one of our training courses for oil and gas professionals is simple and convenient. Navigate to the specific course page, click “Enroll Now,” and complete the registration form. You will receive a confirmation email with further details on how to proceed.
You may also get in touch with our Registration Team on
+971 50 981 7386 | +971 2 557 7389 or send an email to [email protected]
When should I expect to receive confirmation of registration?
Upon successful registration online, enrolment on the respective training course will be confirmed by Registration Team by e-mail along with the invoice and joining instruction.
Will I receive a certificate after completing the course?
Yes, upon successful completion of our courses for professionals in the oil and gas industry, you will receive an industry-recognized certificate from PetroKnowledge. This certification is designed to validate your skills and knowledge and can significantly enhance your professional credentials, boosting your career prospects in the competitive oil and gas sector.
When and how do I arrange payments?
We offer two convenient payment options:
- Bank Transfer – You can make payment via bank transfer. Once your registration is confirmed, you will receive an invoice with the banking details for the transfer. We would require you to supply a swift copy for us to confirm receipt of funds.
- Payment Link – Alternatively, we provide a secure payment link that you can use to complete your payment after your registration has been confirmed.
What is the refund or cancellation policy?
Our refund and cancellation policy varies depending on the course and circumstances. Generally, cancellations made at least 21 days before the training are eligible for a refund, less any administrative fees. If you have any specific inquiries about the cancellation or refund, don’t hesitate to contact our support team, who can assist with your booking and cancellation queries.
Is there a discount for more than one registrant/course?
For corporate fees and group registration, please send your query to [email protected].