Basic Petroleum Economics - BEC3
Posted by PetroSkills on Thursday, March 18, 2010
Start Date Monday, June 07, 2010
End Date Wednesday, June 09, 2010
Location
London, UK
Full Details
See full details at http://www.petroskills.com/courseDetails.aspx?courseID=508
DESIGNED FOR
Managers, engineers, explorationists, field accounting supervisors and other personnel who need to develop or improve their skill and understanding of basic economic analysis and profitability of petroleum exploration and production
YOU WILL LEARN
How to evaluate the economic viability of a project
Cash flow techniques applicable in economic evaluations
How to use economic criteria to choose investments
Models to weigh risk and uncertainty
ABOUT THE COURSE
Could you answer the following three questions for your next project?
What will it cost? What is it worth? Will it earn sufficient profit?
Before undertaking any project, these questions should be answered. The material covered in this 3-day course, which has been approved by PetroSkills curriculum advisors will provide the fundamentals necessary to enable you to do so. Contractual arrangements, which also significantly impact the economic viability of a project, are covered. Participants practice cash flow techniques for economic evaluations and investigate frequently encountered situations. Each participant will receive Economics of Worldwide Petroleum Production, written specifically for PetroSkills courses.
This course is suggested for employees of PetroSkills member companies (BP, Shell, Halliburton, Saudi Aramco, Occidental, ConocoPhillips, Chevron, Repsol, Marathon, Swift Energy, PTTEP, Woodside, and Baker Hughes). Individuals may wish to participate in either this course or Expanded Basic Petroleum Economics, which is the 5-day version which includes expanded material covering finance, accounting, and budgeting.
COURSE CONTENT
Forecasting oil production
Defining: "reserves", operating expenses, capital expenditures, inflation, factors effecting oil and gas prices
Cash flow techniques
Economic criteria: interest, hurdle rate, time value of money, selection, ranking criteria
Risk, uncertainty: types of risk, mathematical techniques, probabilistic models, uncertainty in economic analysis
Tips on economic factors in computer spreadsheet analysis
Ethics in economic analyses
See full details at http://www.petroskills.com/courseDetails.aspx?courseID=508
Category
Training Courses