Petroleum Economics

Petroleum Economics

Aimed at the more senior manager or technical operative, this aspect of the course, on Petroleum Economics, combines the review, appraisal and evaluation of a wide variety of techniques that are brought together under the heading of petroleum economics.

It is assumed that all delegates will have a grasp of the main areas to be discussed and applied during the programme in keeping with the nature and level of the materials to be presented.

Excel spreadsheet templates and financial modelling best practice will be used rigorously at appropriate stages in the course. Delegates will be required to apply best practice at all times and to work with the trainer and their fellow delegates on solving problems from the materials provided and their problems at work.

As far as contract management is concerned, we will take an intensive look at these critical areas and we will do so in an interactive and highly practical way:

  • Contract Management Overview
  • Contract Pricing and Analysis
  • Cost Accounting Standards
  • Performance Based Contracts
  • Subcontracts
  • Termination and Legal Issues

Course Objectives – Petroleum Economics

By the end of this course delegates will be able to:

  • Identify all elements of a project lifecycle and say who is involved
  • Review the common types of oil and gas upstream projects
  • Appreciate and apply the concepts and methods of forecasting
  • Set up and use a cash flow forecast
  • Apply the concepts of the time value of money
  • Review the main types of fiscal regimes around the world and evaluate them
  • Discuss and incorporate risk and sensitivity analysis
  • Prepare, analyse and make decisions based on general capital budgeting and the project selection process
  • Evaluate and make recommendations about potential oil and gas investments
  • Use and evaluate Budgeting and Scenario Management for Project Management

Day 1

Project Economics

Review of project economics

The project lifecycle and who is involved

Common types of oil and gas upstream projects

The concepts and methods of forecasting

Cash Flow and Economic Indicators

Cash Flow Forecasting and Analysis

The time value of money

The cost of capital

Day 2

Fiscal Regimes

Introduction to the main types of fiscal regimes around the world

Building cash flows

Reviewing different types of service agreements

Comparison of investments under different fiscal regimes

Current trends in fiscal regimes around the world

Day 3

Project Investment Analysis

Discuss and incorporate risk and sensitivity analysis in order to calculate

The purpose of incremental investment analysis

Prepare, analyse and make decisions based on general capital budgeting and the project selection process

Evaluate and make recommendations about potential oil and gas investments

Budgeting and Scenario Management for Project Management

Setting forecasts, targets and budgets: what they are and why we need them

This training course uses both conventional and non-traditional techniques. It utilises small group and facilitated plenary discussions as well as instruction to explore key concepts, models, tools and techniques. Hands-on exercises and case studies are used to practice the application of knowledge and use of skills. Structured reviews provide the opportunity to consider how the learning can be applied to the delegates’ own work.

  • D.McKINSEY AND ASSOCIATES Ltd Certificate of Completion for individuals who attend and completes’ Petroleum Economics course.
  • Candidates who desire International Certifications shall be registered through our platform for such an examination.

3 DAY

D.Mckinsey is licensed to train and issue certificates by the following bodies;

–           Nigerian Council for Management Education, (CMD).

–           OGTAN (Oil and Gas Trainers Association of NIGERIA).

Kindly confirm space availability by calling +234 (0) 8023192104 or +234 (0) 9062386530 or send an email to info@dmckinseyandassociates.com, dmckinseytraining@gmail.com.   For In-House training programs / on request, please contact us using above contact details.

APR 10-12

AUG 14-16

DEC 4-6

Close Menu