An Intensive 5-day Training Course
Risk Analysis Prospect Evaluation
and Exploration Economics
Scheduled Dates
Classroom
04 - 08 Aug 2025 | London - UK | $5,950 | RESERVE A SEAT |
17 - 21 Nov 2025 | London - UK | $5,950 | RESERVE A SEAT |
Online
17 - 21 Nov 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?
The objective of the Risk Analysis Prospect Evaluation and Exploration Economics training course is to provide the participants with an understanding of the risk issues affecting the oil and gas industry and to enable them to appraise key energy challenges. These include but are not limited to: risks from volatile commodity prices, safety and environmental pressures and regulations, additional risks of noncompliance, and of major cost overruns for large Exploration and Production projects.
Exploration and Production companies must often evaluate the potential of their investment using proper present value analyses of expected future cash flows. This PetroKnowledge training course provides a practical guidance in the application of economic analysis techniques currently used in the oil & gas industry. When executing a petroleum related project, one should be able to choose the best alternative, from an economic point of view, by properly evaluating all investment opportunities. By understanding and determining the concepts of economic indicators, risk and uncertainty analysis, by conduction sensitivity analyses, as well as grasping different economic structures such as tax regimes and production sharing contracts, they will be able to enhance the quality and value of the economic analysis.
Techniques for predicting profit, production, costs, and cash flow will enable the participant to evaluate decision alternatives for optimum results. From the projected cash flows and required investments, the annual rate of return and other project economic indicators can be extracted to evaluate the significance of company investment.
Participants will learn how to manage the risks in oil and gas industry, in a prioritized manner, communicate risk judgments effectively and know how to design an overall risk management system to conduct specific analyses thus gaining a comprehensive exposure to financial and energy risk management tools and strategies. Furthermore, participants will be taught how classic risk management techniques must be adapted and extended to meet risk management for complex Oil and Gas energy markets.
This Risk Analysis Prospect Evaluation and Exploration Economics training course will feature:
- Familiarization with economic analysis techniques for the oil and gas industry
- Holistic Approach to Petroleum related project evaluation methods
- Economic criteria for investment project evaluations
- Financing oil and gas projects, cost of capital and discount rate
- Screening and ranking of petroleum projects based on evaluating investment opportunities
- Introduction to risk analysis, risk and discount rate and sensitivity analysis
- Project management risks: Identifying project risks and uncertainties.
- Application of risk management methods in mitigating the identified risks of the project
- Make the right investment decision in the presence of risk
- Operational risks, environment, Health and Safety Regulations
- Carry out a comprehensive economic evaluation study for any petroleum related project including risk analysis and sensitivity study using spreadsheet
What are the Goals?
By the end of this Risk Analysis Prospect Evaluation and Exploration Economics training course, participants will be able to:
- Critically evaluate and appraise the key challenges facing the oil and gas industry
- Maximise corporate value and how IOC’s reduce risks
- Interpret and create corporate management strategy
- Understand the many facets of fiscal and processing agreements
- Manage challenges from fracking operations and unconventional oil and gas production
- Understand oil and gas geopolitics and risks associated with various pricing policies
- Handle issues of crude oil Price Volatility and price uncertainty
- Understand Market Risk Evaluation
Who is this Training Course for?
This Risk Analysis Prospect Evaluation and Exploration Economics training course is suitable to a wide range of professionals but will greatly benefit:
Both technical and non-technical personnel as well as operational staff at professional levels employed in refineries, petrochemical, and oil and gas process industries. The course is designed to be of substantial benefit to personnel within the Oil and Gas Industries such as:
- Oil & Gas Planners & Financial Analysts
- Personnel requiring a broad understanding of the structure, operations and economics of the oil and gas industries
- Oil & Gas Field Engineers, Managers & Auditors
- Technologists & Mechanical engineers
- Operations, Maintenance or project engineers
How will this Training Course be Presented?
The training approach is based on principles of economic evaluation of petroleum related projects including practical exercises, case studies, question and answer sessions and group discussions. A step by step development approach of economic models & indicators and evaluating and quantifying risks and uncertainties for making the right investment decision for the project will be followed. To facilitate that, Microsoft Excel based economics modules will be presented and all discussions will be provided using high quality power point slides.
Daily Agenda
Day One: Cash Flow Analysis
- Introduction to the oil and Gas Industry
- History of Energy usage
- Basic Principles of Oil and Gas Economics
- Familiarization with Economic terms
- Setting up Cash Flow Calculation
- Depreciation Methods & Loss Carry Forwards
- Inflation
- Nominal & Real Cash Flow
- Abandonment & Sunk Costs
- Project Financing
Day Two: Economic Indicators
- Economic Indicators Definitions
- Present Value Concept
- Discount Factor & Net Present Value
- Internal Rate of Return
- Payback Period
- Profit/Investment Ratio
- Incremental Projects
- Effect of Project Delay
Day Three: Risks and Uncertainties
- Risk & Uncertainty
- Expected Value Concept
- Decision Tree Analysis
- Farm-out Decision
- Probability Analysis
- Sensitivity Analysis
- Probability Distribution
- Monte Carlo Simulation
Day Four: Setting up Spreadsheet Calculation
- Introduction to Spreadsheet Calculation
- Simple Cash Flow Using Excel
- NPV calculations
- Application of economic indicators
Day Five: Setting up Oil Field Development Model
- Setting up an Integrated Economic Model of a Typical Oil Field Development
- Case Study – Chevron Texaco Frade Project
- Project Sensitivity Analysis for the selected model
- Final remarks
Certificate
- On successful completion of this Training Course / Online Training Course, a PetroKnowledge Certificate / E-Certificate will be awarded to the delegates.
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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].