PETROLEUM ECONOMICS

OVERVIEW

Course outcomes  
By completing the course, you will be able to understand 

  1. A basic understanding of economic concepts
  2. Reservoir rock and fluid properties
  3. Volumetric and material balance concepts
  4. Personal computer operation

The course aims at 

  • Overview of the Oil & Gas Fiscal System
  • Project Economics
    • Why petroleum economics is required to make investment decisions?
  • Oil and gas exploration and production life cycle
    • Production
    • Defining costs in the upstream: OPEX, CAPEX
    • Costs: Acquisition, Exploration and Production Costs
    • Accounting for Depreciation, Depletion and Amortization
    • Enhanced oil recover

COURSE OUTLINE

Activities

The course will be covered by power point presentations

  • Pre test  / post test 
  • Written manual
  • Video clips
  • Group discussion
  • Workshop: to cover oil production method starting from the exploration stage, primary recovery, secondary recovery and tertiary recovery phases of production will be elaborated during the.
  • Decision making techniques: A number of models in quantitative decision making techniques will be presented in the simplest form, which will enable participants to understand and solve the problem with ease.
  • Calculations
  • Case studies
  • Problem solving
  • Equipment used
  • Q&A