Why Choose this Training Course
This is a 4-days petroleum economics training course. Input from the tutor is combined with practical exercises to enable participants to understand and apply economic and risk analysis principles to E&P decision making. Examples will cover all stages of the field life cycle from exploration, through appraisal to development planning. The emphasis will be on how estimated volumes of producible hydrocarbons are turned into dollar value, while identifying and managing project uncertainties and the associated risks. The course is fully supported by the recent publication “Petroleum Economics and Risk Analysis”.
Who Should Attend
The petroleum economics training course is aimed E&P professionals in Singapore and Malaysia who interface with the economics and planning department in their organisation or who are at the early stage of working in those commercial areas. It will assist their understanding of the terminology and techniques used in commercial evaluations and improve the interaction between technical and commercial disciplines.
Key Learning Objectives
By the end of the course, participants will be able to:
- Understand key drivers in global oil and gas supply and demand, and their relation to product prices
- Compile the data required to perform a cash flow analysis, build a simple cash flow model, and perform the discounting procedure
- Generate and interpret key project economic and risk indicators which aid investment decision making (eg NPV, IRR, maximum exposure, capital efficiency)
- Be aware of the impact of different fiscal systems on net cash flow to the oil company
- Understand key uncertainties and risks in the analysis of exploration opportunities
- Apply a concept generation matrix to evaluate alternative subsurface, facilities and export options in field development planning
- Identify key uncertainties in E&P project investment and apply methods of managing associated risks using the bow-tie model
- Appreciate the benefits of E&P portfolio investment in reducing risk