Petroleum Economics Integrated with Decision and Uncertainty Analysis

Audience

The course is suitable for delegates of all technical and commercial disciplines from oil and gas companies, governments, banks, legal and accounting organizations.

Content

The course is unique in its field; delegates gain tangible skills to take back to their workplaces: economic model-building integrated with practical decision and uncertainty analysis.  This is achieved over the five days through a mix of theory, question and answer, case studies and hands-on practical workshop sessions.

  • Understand the theory of petroleum economics based on discounted cashflow
  • Calculate with confidence the key economic metrics used in investment decision making (NPV, rates of return, PIR, payback etc)
  • Appreciate the geological, engineering and pricing inputs to the cashflow model
  • Understand the principles and appreciate the diversity of worldwide fiscal systems
  • Build Excel-based economic models, in both a Tax/Royalty and Production Sharing Contract fiscal system
  • Learn about the power of practical decision and uncertainty analysis
  • Discover the benefits of tornados, decision trees and cumulative probabilities plots
  • Gain new insights and confidence from your use of uncertainty data
  • Identify key risks and uncertainties for your projects
  • Develop an appreciation for the value of information
  • Make better recommendations and improve the quality of your decision-making

Duration

5-day

Number of Participants

Max 20

Prerequisites

Excel™: working knowledge

Software Used

None

Course Format

Classroom delivery with presentations, practical exercises and modelling workshops

Audience

The course is suitable for delegates of all technical and commercial disciplines from oiland gas companies, governments, banks, legal and accounting organizations.

Content

The course is unique in its field; delegates gain tangible skills to take back to their workplaces: economic model-building integrated with practical decision and uncertainty analysis.  This is achieved over the five days through a mix of theory, question and answer, case studies and hands-on practical workshop sessions.

Understand the theory of petroleum economics based on discounted cashflow Calculate with confidence the key economic metrics used in investment decision making (NPV, rates of return, PIR, payback etc) Appreciate the geological, engineering and pricing inputs to the cashflow model Understand the principles and appreciate the diversity of worldwide fiscal systems Build Excel-based economic models, in both a Tax/Royalty and Production Sharing Contract fiscal system Learn about the power of practical decision and uncertainty analysis Discover the benefits of tornados, decision trees and cumulative probabilities plots Gain new insights and confidence from your use of uncertainty data Identify key risks and uncertainties for your projects Develop an appreciation for the value of information Make better recommendations and improve the quality of your decision-making

Duration5-dayNumber of ParticipantsMax 20PrerequisitesExcel™: working knowledgeSoftware UsedNoneCourse FormatClassroom delivery with presentations, practical exercises and modelling workshops

Learning Objectives

Duration

5-day

Number of Participants

Max 20

Prerequisites

Excel™: working knowledge

Software Used

None

Course Format

Classroom delivery with presentations, practical exercises and modelling workshops

Find Out More

CGG GeoTraining offers the most comprehensive industry training based on years of practical experience acquired by our personnel.

Our proprietary courses are fully customizable and can be offered at a time and location convenient to you. Please request a course for more information.