| Economics of Petroleum Production Training Program Duration: 5 Days Audience: Petroleum Engineers, Economists, Project Managers, Finance Professionals This 5-day training program provides participants with a structured understanding of economic evaluation methods in petroleum production. The program covers key concepts such as cost estimation, cash flow analysis, risk assessment, and project economics. Day 1: Introduction to Petroleum Economics - Importance of economics in oil and gas projects - Petroleum industry value chain overview - Market fundamentals: pricing, demand, supply - Overview of economic evaluation methods Day 2: Cost Estimation and Cash Flow Analysis - Capital expenditure (CAPEX) and operational expenditure (OPEX) - Cost breakdown and estimation techniques - Building cash flow models - Time value of money concepts: NPV, IRR, Payback Period Day 3: Fiscal Regimes and Contractual Terms - Types of petroleum fiscal systems: royalty, PSC, tax-royalty - Production sharing agreements (PSA) basics - Contractual considerations in petroleum projects - Case study: Comparing fiscal regimes Day 4: Risk and Uncertainty in Petroleum Economics - Identifying risks in petroleum projects - Sensitivity analysis techniques - Scenario planning and probabilistic methods - Introduction to Monte Carlo simulation basics Day 5: Project Evaluation and Decision Making - Integrated project economic evaluation - Reviewing investment decisions in upstream projects - Portfolio management basics - Final review, assessments, participant presentations, and certification distribution Expected Learning Outcomes
Training Methods- Classroom instruction and interactive discussions - Case studies and exercises with real-world data - Excel-based economic models and production forecasts - Software demonstrations (Petrel, Pipesim, MBAL, PEEP overview) Customization for Regional Needs- Examples from regional onshore/offshore fields - Arabic-English delivery option available - Integration with national regulatory frameworks Trainer Profile- Multidisciplinary instructors (reservoir, production, drilling) - Regional NOC/IOC engineering advisors - Guest speakers from petroleum economics and HSE backgrounds CertificationCertificate of Completion and individual assessment report provided. |