Petroleum Economic Evaluation & Project Investment Decision Making

Course Length: 5
Days

Course
Description:

This course covers the fundamental principles of economics and
engineering related to petroleum reservoirs. This course will review the
concepts of petroleum reserves, the time value of money and their applications
for evaluating investment situations. These techniques can be used to
systematically qualify the relative economic merits of investment
opportunities. A number of analytical, empirical and numerical methods for
estimating volumetric performances of petroleum reservoirs under uncertainties
will be discussed.

Field case studies will be provided to illustrate the field
application of the petroleum economic evaluations and project investment
decision making concepts, methods, processes and practices

Who Should Attend:

This course is designed for project engineers, geoscientists,
reservoir engineers, production engineers, petroleum engineers, planning and
development analysts, business planner, senior/ executive managers

What You Will Gain:

•       
Knowledge of tools and processes for evaluating projects
and prioritizing investments decisions

•       
How to help a project developer
evaluate the economic impact of his project, which accelerate ability to
procure financing for the project

•       
How to help several investment
groups determine economics of new asset and value of existing assets, this help
to evaluate projects and execute projects faster

•       
Understand field planning optimization. Understand risks and rewards to make better decisions on key projects
pertaining to portfolios and resources

•       
Preparation of project expenditure proposals that
can win management approval

Course Outline:

•       
Overview of petroleum reserves definition and classifications.

•       
Reservoir performance forecasting
methods – decline curve analysis and material balance approach – deterministic
and probabilistic methods

•       
Concepts of economic evaluation.
Risk and Uncertainties in Economic Evaluation. Economic indicators and
profitability. Risk analysis. PSC analysis and fiscal system

•       
Basics of decision analysis. Different classes of decision problems.
Investment proposal ranking
methods. Investment decisions

•       
Decision under uncertainty.  
Decision under risk. Multiple-objective problems                                  Field Case Studies