COURSE OVERVIEW

This practical and highly-interactive course includes various practical sessions and exercises.  Theory learnt will be applied using our state-of-the-art simulators. 

This course is designed to provide participants with a detailed and up-to-date overview of E&P risk analysis, prospect evaluation and exploration economics. It covers the importance of economic and risk analysis including demand, supply and the market; the oil price in short term and long term; the fundamentals of oil and gas hedging; the sequence of events of a new discovery; the exploration economics and reservoir drive mechanisms; the reserve estimation and decline curve analysis; and the production profile, revenue, costs and profit and time value of money. 

During this interactive course, participants will learn the net present value, internal rate of return and pay out time; the profit/investment ratio, oil agreements and economic models and spreadsheet design; the risk and uncertainty, expected value concept and decision tree analysis; the monte carlo simulation, probability analysis, sensitivity analysis and decision analysis; and the integrated economic model of a typical oil field development.