Petroleum Economics: Atyrau
£2,950
Petroleum Economics: Atyrau

Petroleum Economics: Atyrau

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Atyrau

Kazakhstan

Event description

Description

Course overview

The course provides a comprehensive overview of the practices of exploration and development petroleum economics and its application in valuing oil and gas assets to aid corporate decisions.

Participants will construct economic models, to include basic fiscal terms, production and cost profiles and project timing. The resulting model will provide insights of how the various inputs impact value and their relative affect through sensitivities – field studies will be used throughout the course.

The course is designed for

  • Professionals who need to learn about the industry
  • Personnel within the industry
  • Technical support staff entering the industry
  • Technical staff who want to expand their understanding of the industry
  • Students considering the industry as a career

Course outline

Introduction

Introduction to the oil and gas industry
Risk versus reward
Exploration economics
Development economics

Cash flows

Input requirements
Production & investment profiles
E&A costs
DRILLEX, CAPEX, OPEX & ABEX
Tariffs – incoming & outgoing
Oil and gas pricing & forecasting
Net cash flow
Profit and loss
Payback, max exposure & return on investment
Working and carried interests

Exploration Economics

Drill or drop
Expected Monetary Value (EMV)

DCF Model – Development Economics

Discounted cash flow
Time value of money
Inflation
Cost escalation
Interest
Exchange rates
Discount rate
Cost of capital
Real v nominal economics
Evaluation metrics – NPV, IRR, DPIR etc.

Oil and Gas Contracts

Reserves – SPE & SEC definitions
Concessions
Production sharing contracts/agreements (PSC/PSA)
Joint ventures
Service contract

Risk Analysis

Project risks
Cost uncertainty
Probability analysis – Monte Carlo
Sensitivity analysis – Spider diagram, Tornado charts

Workshop

Project development and economic analysis

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Date and Time

Location

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Atyrau

Kazakhstan

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