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Fundamentals of Petroleum Economics

This is a practical energy training course which enables delegates from all technical and commercial disciplines to understand the theories and met

Corporate Training Programme

(Five or Ten Days)

Introduction

This is a practical energy training course which enables delegates from all technical and commercial disciplines to understand the theories and methods used to value oil and gas prospects. The programme will reveal the fundamental aspects of upstream petroleum economics and risk analysis.

This course is suitable for anyone wishing to learn about economic aspects of petroleum.

Course objectives

After completing this course, each student will have an overview of the economic aspects of the upstream and midstream aspects of the petroleum industry.

Who will benefit?

Company executives involved in upstream and midstream businesses, petroleum business development, operational managers who deal with petroleum economic aspects in their daily lives, government and parastatal officials involved in policy, monitoring and regulation of petroleum enterprises.

Previous experience

No previous experience is needed.

Curriculum

1. Introduction

World oil and gas industry today; Evolution of the international oil and gas industry; National petroleum industry; National petroleum and gas legislation

2. Fundamentals of production and end use characteristics

The value chain; Exploration; Production; Transportation; Refining; Petrochemicals; Refined products markets; Introduction to petroleum engineering, Environmental issues

3. Legal and contractual framework

Legal framework; Regulatory framework; International contractual frameworks, including production sharing contracts, joint ventures; tax and royalty concession models

4. Petroleum financing

International oil and gas fiscal and taxation systems; Petroleum financing; Cash calls; Understanding uncertainty in exploration; Evaluating investment opportunities in exploration, development and production

5. Costs and prices

Factors affecting market prices; Cost plus pricing, Netback pricing; Transportation; Costs in the petroleum sector; Cost monitoring and auditing

6. Economic aspects

Discounted Cash Flow analysis; Components of oil/gas field cash flows; Risk analysis

7. Future issues

The future for oil and gas production globally; Alternative fuels

Read the Terms and Conditions before booking.