Upstream Petroleum Economics

Upon completion of this course, participants will be able to:

• Increase proficiency in constructing and analysing comprehensive cash flow models for oil and gas projects, incorporating complex elements such as production profiles, fiscal regimes, and abandonment costs using Excel-based tools.
• Master the application and interpretation of multiple economic indicators (NPV, IRR, payback period, Value Investment Ratio, Unit Technical Cost) to make nuanced investment decisions in the context of upstream petroleum projects.
• Gain the ability to evaluate and compare different petroleum fiscal systems (concessions, Production Sharing Contracts, service contracts) and assess their economic impact on project viability and profitability.
• Acquire skills in conducting thorough risk and sensitivity analyses, including the use of probabilistic methods and decision tree analysis, to make informed decisions in the face of uncertainty in the upstream sector.
• Develop a strategic understanding of how current industry trends, particularly the energy transition, impact project economics and long-term asset valuation in the upstream oil and gas sector.

This course is designed to be accessible to participants from all backgrounds, making it suitable for both those with limited prior exposure to economic concepts and those looking to refresh and expand their existing knowledge. Participants do not need an advanced mathematics or finance background, but basic proficiency with Microsoft Excel is beneficial for the practical exercises.

• Managers and executives who need a comprehensive understanding of economic principles to make strategic decisions.
• Engineers (petroleum, reservoir, drilling, production) who want to understand the economic implications of their technical decisions and contribute more effectively to project evaluations.
• Geoscientists (geologists, geophysicists) looking to connect their technical assessments with economic considerations and contribute more effectively to project evaluations and decision-making processes.
• Financial and accounting professionals who need to deepen their understanding of industry-specific economic concepts and valuation methods.
• Commercial and business development professionals involved in project assessment, acquisitions, or divestitures in the upstream sector.
• Technical and non-technical staff from various disciplines who want to enhance their ability to contribute to economic discussions and decision-making processes.
• New entrants to the industry or professionals transitioning into roles that require economic analysis skills in the upstream.
• Analysts and consultants who need a solid grounding in upstream economics to provide valuable insights to their clients.
• Government officials and regulators involved in energy policy or fiscal regime design who want to understand the economic drivers of the upstream industry.

• Basic
• Intermediate

Your expert course leader, based in Dubai, has over 30 years of experience in the petroleum industry. He has held key positions at Shell, Amoco, and Mobil where he developed extensive expertise in petroleum economics, project management, and strategic planning. His career spans roles such as Commercial Manager, Corporate Planner/Economist, and Engineering Manager across multiple countries. His achievements include authoring a personal finance book, holding a U.S. patent, and serving as an adjunct professor for MBA programs. His diverse skill set encompasses financial analysis, organizational efficiency, and international negotiations, making him a valuable asset in the energy sector.

Unlock the potential of your workforce with customized in-house training programs designed specifically for the energy sector. Our tailored, in-house courses not only enhance employee skills and engagement but also offer significant cost savings by eliminating travel expenses. Invest in your team’s success and achieve specific outcomes aligned with your organization’s goals through our expert training solutions. Request for further information regarding our on-site or in-house training opportunities.

In our ongoing commitment to sustainability and environmental responsibility, we will no longer providing hard copy training materials. Instead, all training content and resources will be delivered in digital format. Inspired by the oil and energy industry’s best practices, we are leveraging on digital technologies to reduce waste, lower our carbon emissions, ensuring our training content is always up-to-date and accessible. Click here to learn more.

To further optimise your learning experience from our courses, we also offer individualized “One to One” coaching support for 2 hours post training. We can help improve your competence in your chosen area of interest, based on your learning needs and available hours. This is a great opportunity to improve your capability and confidence in a particular area of expertise. It will be delivered over a secure video conference call by one of our senior trainers. They will work with you to create a tailor-made coaching program that will help you achieve your goals faster.
Request for further information post training support and fees applicable