PETROLEUM ECONOMICS
OVERVIEW
Course outcomes
By completing the course, you will be able to understand
- A basic understanding of economic concepts
- Reservoir rock and fluid properties
- Volumetric and material balance concepts
- 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