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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



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