Who Should Attend

The course is tailored for those who are searching to understand the aspects of petroleum economics within your contract and country setting with respect to project viability in a world of Carbon Capture Usage and Storage. Within developing countries, the need to sustainable develop your countries key energy from hydrocarbon assets requires efficient energy production in a sustainable way; such countries require energy which after access to food and shelter for their people, requires efficient energy production in a sustainable way as the way of progress.

Why should you take this course?

Wherever you work in the value chain within upstream petroleum projects, you need to know your contribution as well as the contribution of each member of the value chain team. Come and learn about the process of petroleum economics in a sustainable way, whether you are an earth scientist or an operator or engineer working on the asset, you need to understand how to put together petroleum economics.

What is Upstream Petroleum Economics ?

It is often described as an “Art”, and encompasses these aspects:

• Analyzing the incoming stream of revenue from the reservoir engineer to derive with her the highest economic rent possible from the project.
• Looking at nearby projects (either within your company or outside of it) to understand how they can synergize off of your project in a sustainable way of benefit to both projects, examples include:
  • Using a gas rich project to support a gas deficient project,
  • Turning the project into electrons to transport in an electrical grid, i.e. how to create working partnerships with technology suppliers and energy bit-coin middle men to economize your project.
• Always endeavoring to maximize the economic value of the field.

The complication comes at the start, when discovery of an oil and gas reservoir occurs and there is no market for your project and you are remote from other projects with which to synergize. Learning how to wait for economic rent and be patient with technology growth to improve project sustainability, for the long term acceptance of the whole community of stake holders including the community in which the project is being developed, seeking sustainability.

Course Methodology and Philosophy

The course philosophy and methodology is to present the basics of the complicated nature of petroleum economic calculations, through a hands on approach, and review different value measures their weakness and strengths.