Petroleum Economics Training

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.

By the end of this course delegates will be able to:

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

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

Continuing Professional Development

35 HOURS CPD