Petroleum Economics and Risk Analysis
Candidates:
Engineers, geologists, economists, accountants, technicians as well as managers and supervisors who need to learn and/or develop their understanding on how to conduct economic evaluation to help them in investment decision making.
Summary:
This workshop provides practical guidance in the application of the techniques of the economic analysis currently used in the oil & gas industry. It covers the techniques which assist in making investment decisions. It also covers in detail the cash flow analysis, economic indicators, risk and uncertainty. The workshop will include a number of exercises aimed at enhancing each participant capability to conduct various economic evaluations. Each participant will attempt to develop spreadsheet calculations of various economic analyses.
Contents:
- Cash Flow
- Depreciation, Sunk Costs and Escalation
- Project Financing
- Economic Indicators
- Discount Factors and IRR
- Interest and Inflation
- Payback and EPSA
- Risk and Uncertainty
- Categories of Risk
- Probability & Sensitivity Analysis
- Reserve Distribution
- Mont Carlo Simulation