Course Description

This practical and highly-interactive course includes various practical sessions and exercises. Theory learnt will be applied using our state-of-theart simulators. Economics drives the entire oil and gas industry. Almost every decision is made on the basis of an economic evaluation. Economic evaluations are also performed to determine reserves and the "standardized measure of value" for reporting purposes for publicly held companies. In many cases, the goal of the company is to make decisions that have the best chance of maximizing the present day profit. Petroleum economics has a vital role to play in the Oil & Gas industry and it lies at the heart of all decision making. Various techniques have evolved over time in determining and calculating economic inputs, evaluating investments, quantifying risk and generating feasible portfolios. Petroleum economics brings together information and expertise across the E&P spectrum and a clear understanding of concepts such as cash flow analysis, organizational challenges, price forecasting, cost drivers and risk management is required. Petroleum economics course covers essential foundation of petroleum economics, project economic evolution, and basic decision and risk analysis. It covers other key concepts like time value of money, cash flow basic, common economic indicators, fiscal systems, and project selection fundamentals.This course is designed to provide participants with a detailed and an up-to-date overview of petroleum economics. It covers the concepts of uncertainty and risk and O&G best practices to aide the economic evaluations of new business projects; the project economics; the cashflow and economic indicators and profitability; the fiscal regimes; the economic assessment and decision making of international contracts; the project risk and uncertainty; and the project investment analysis that include incremental analysis, capital budgeting and project selection process, financing, contracting and ownership, multiple project analysis and decision making. link to course overview PDF

TRAINING METHODOLOGY

This interactive training course includes the following training methodologies as a percentage of the total tuition hours

30 % Lectures
20 % Workshops & Work Presentations
20 % Case Studies & Practical Exercises
30 % Videos, Software & Simulators

In an unlikely event, the course instructor may modify the above training methodology before or during the course for technical reasons.

VIRTUAL TRAINING (IF APPLICABLE)

If this course is delivered online as a Virtual Training, the following limitations will be applicable

Certificates	:	Only soft copy certificates will be issued to participants through Haward’s Portal. This includes Wallet Card Certificates if applicable
Training Materials	:	Only soft copy Training Materials (PDF format) will be issued to participant through the Virtual Training Platform
Training Methodology	:	80% of the program will be theory and 20% will be practical sessions, exercises, case studies, simulators or videos
Training Program	:	The training will be for 4 hours per day starting at 09:30 and ending at 13:30
H-STK Smart Training Kit	:	Not Applicable
Hands-on Practical Workshops	:	Not Applicable
Site Visit	:	Not Applicable
Simulators	:	Only software simulators will be used in the virtual courses. Hardware simulators are not applicable and will not be used in Virtual Training