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Course Code: OGC 145
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Oil & Gas Economics
Course Sector:
Oil, Gas and Chemical
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Introduction
Training course introducion / brief
Uncertainty and risk are inherent in the hydrocarbon industry, thus evaluating and quantifying uncertainties and risks associated with a course of action is a vital step in the petroleum business. This is especially critical as oil and gas production is capital-intensive with high operating costs, and the decisions made today last for decades with long-lived assets.
This training course is designed to provide participants with the concepts of economic and uncertainty analysis as applied to oil and gas projects to facilitate informed decision-making and foster long-term business resilience for complex systems and projects.
Course Objectives
At the end of the training course, participants will be able to
- Recognize the sources of uncertainty in the hydrocarbon business
- Apply effective modeling frameworks for quantitative analysis
- Develop data to knowledge to action resiliency
- Compare alternatives from operational performance and economical perspectives
Course Audience
Who is this course for, and can benefit the most
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Course Outline
The course aims and learning outcomes
- Economic Principles
- Motivation
- Economic Concepts
- Economic Definitions
- Cash Flow Analysis
- Time Value of Money
- Hydrocarbon Resources Economic Evaluation
- Petroleum Resources Management System
- Petroleum Reserves
- Return on Investment
- Net Present Value
- Screening and Evaluation of Oil & Gas Projects
- Modeling and Forecasting
- Building Models from Data
- Reservoir Performance
- Well Production Forecast
- Sensitivity Analysis
- Monte Carlo Simulation
- Unconventional Resources
- Unconventional Reservoirs
- Rate Forecast
- Economic Value Estimation
- Investment Evaluation Methods
- Bayesian Inference
- Decision and Uncertainty Analysis
- Sources of Uncertainty
- Risks from Uncertainty
- Decision Tree Construction and Evaluation
- Decision Analysis and Framework
Providers and Associations
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Boost certificate of completion
BOOST's Professional Attendance Certificate “BPAC” is always given to the delegates after completing the training course, and depends on their attendance of the program at a rate of no less than 80%, besides their active participation and engagement during the program sessions.
ENDORSED EDUCATION PROVIDER
Flexible deadlines
Customized dates accordance to your schedule
Shareable Certificate
Earn certificate upon completion
COURSE METHODOLOGY
Our Training programs are implemented by combining the participants' academic knowledge and practical practice (30% theoretical / 70% practical activities).
At The end of the training program, Participants are involved in practical workshop to show their skills in applying what they were trained for. A detailed report is submitted to each participant and the training department in the organization on the results of the participant's performance and the return on training. Our programs focus on exercises, case studies, and individual and group presentations.
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