Hari 1
Introduction to Petroleum Economics
- Revenue, Expenses, Cash Flow Diagram
Overview of Reserves & Resources
- Original Oil/ Gas in Place, Volumetric (Reserves) Estimation, Deterministic and Probabilistic Methods (Monte Carlo)
- Reserves and Resources
- Unconventional Hydrocarbon (shale oil/gas, CBM, heavy oil, gas hydrate, low perm oil, tight gas sands), Resources Triangle concept
- Case study discussion
Overview of Production Forecasts and Reserves Estimation
- Decline Curve Analysis (exponential Decline, Hyperbolic Decline, Harmonic Decline)
- Pore Volume Calculation of Reserves
- Material Balance Methods of Reserves Analysis
- Reservoir Simulation for Reserves Calculation
- Case study discussion
Hari 2
Economics Decision Tools
- Fundamental bases for Decision
- Approaches to Economic Quantification, The Time Value of Money
- Project Life and Cash Flow Pattern
- Economics Yardsticks: Net Present Value (NPV), Discounted Profitability index (DPI), Internal rate of Return (IRR), Return of Investment (ROI), Payout Period
- Case study discussion
Risks and Uncertainties
- Handling Probabilities, Sensitivity Analysis, Expected Value Concepts
- Decision Tree
- Stochastic Modelling (Monte Carlo Simulation)
- Preference Theory and Bias
- Value of Information (VOI)
- Case study discussion
Hari 3
Type of Agreements Between Operating Companies and Host Governments
- Concession Contracts
- Joint Venture Agreement
- Production Sharing Contracts/Agreements (PSC/PSA)
- Risk contracts, Service Contracts
- Case study discussion
