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:
By the end of this training course, participants will be able to:
This training course is suitable to a wide range of professionals but will greatly benefit:
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.
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