Petroleum Economics

Who Should Attend

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

 

 

Course Description

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.

 

 

Course Objectives

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

 

 

Continuing Professional Development

35 HOURS CPD

 

 

Course Content

Day 1

 

Project Economics

 

Review of project economics

 

The project lifecycle and who is involved

 

Common types of oil and gas upstream projects

 

The concepts and methods of forecasting 

 

 

Day 2

 

Cash Flow and Economic Indicators

 

Cash Flow Forecasting and Analysis

 

The time value of money

 

The cost of capital

 

 

Day 3

 

Fiscal Regimes

 

Introduction to the main types of fiscal regimes around the world

 

Building cash flows for 

 

Reviewing different types of service agreements

 

Comparison of investments under different fiscal regimes

 

Current trends in fiscal regimes around the world

 

 

Day 4

Project Investment Analysis

 

Discuss and incorporate risk and sensitivity analysis in order to calculate 

 

The purpose of incremental investment 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

 

Day 5

Budgeting and Scenario Management for Project Management

 

Setting forecasts, targets and budgets: what they are and why we need them

 

Alternative budgeting systems and approaches: what they are and which to choose

 

Scenario Management

 

 

Duration

5 days

 

Location

Date

 

London, United Kingdom

 

 

17-21 July 2017

 

Houston, Texas, United States

 

 

18-22 September 2017

 

 

Dubai, United Arab Emirates

 

 

8-12 October 2017