Pdf fundamentals of petroleum engineering, ibc academy, u. This course introduces the economic concepts, strategies, and basic tools. We propose a simple structural model of the upstream sector in the oil and gas industry to study the determinants of costs with a focus on its relationship with the price of oil. This course provides a thorough, practical introduction to the. Pdf fundamentals of petroleum engineering, ibc academy. Financial modeling and petroleum project economics during these two units, participants will gain an integrated and practical understanding of. The international collaborative program in petroleum economics and management is designed for students or professionals with degrees in science, engineering or social science business school, law, seeking indepth training to develop a commanding skill set. The 5 day training will reveal the fundamental aspects of upstream petroleum economics and risk analysis.
These include competent persons reports cprs for stock market listings, reserve audits and data room evaluations for asset acquisitions, and fiscal design and market studies for government organisations. Kent saugier is a handson scientific, technology and business professional with twentyfive years experience in upstream oil and gas, offshore technology, economics, economic modeling, international petroleum contracts, project management, software applications and technology including design, licensing and commercialization. Upon completion of this course, the student will be able to comprehend the basic concept of international petroleum economics. Comprehend the frame and content of international petroleum economics. Economics is the primary link between decisionmaking and. The subjects treated are petroleum economics, project evaluation and corporate finance. In recent years new technologies have changed the global picture in the oil and gas industry and the frontiers of exploration are continuously. Growing refining overcapacity has resulted in recent refin. This course will introduce a variety of fundamental petroleum economic principles including revenue, expenditures, fiscal systems, risk analysis, and investment analysis. Editions ophrys, 1990 petroleum industry and trade 519 pages.
Macroeconomic variables of oil prices determining the macroeconomic causes of changes in oil prices opec brought into the oil industry by the gulf nations wishing for more control and stability of oil production and pricing impact of oil prices on u. Wood on behalf of ibc global academy this course provides detailed insight to oil and gas economics throughout the supply chain focusing primarily on micro economic. Technological advances and the recent upward shift in baseline energy prices have combined to. Price differentials are threatening the economics underlying global lng arbitrage. It discusses the science of petroleum economics, starting from squareone, the tools of the trade that petroleum economists use, day in and day out, and also its application. Economic and financial determinants of oil and gas.
Energy management 0206 march 2015 dubai, 1620 march 2015 moscow, 2327 march 2015 istanbul 2. Petroleum economics distance learning training course. July 16 17, 2020 shinawatra tower iii, vibhavadi rangsit road. Kaiser has led several studies and published extensively in the field and regularly teaches petroleum economics at lsu and short courses for. The international collaborative program in petroleum economics and management is designed for students or professionals with degrees in science, engineering or social science business school, law, seeking indepth training to develop a commanding skill set in energy techniques, energy economics and management.
The economics of petroleum refining home canadian fuels. Basic petroleum economics mai 2004 ppm 2nd workshop of the china case study 2 investment decisions investment decisions are among the most important decisions that a companygovernment can take capital intensive irreversible high riskuncertainty. Given the large scale of capital investment required for most petroleum projects, it is important that investment decisions are based on a thorough analysis of variables and uncertainties. But the lower prices may unlock competition within regions. It had a proven record of anticipating structural changes affecting the industry. Leffler wins out because his process descriptions are fairly detailed compared to the others. The nontheoretical approach makes this an incredibly interesting and well thought out book, written by a mentor whose principles i still observe to this day. Engineering economics, principle of economics and rinciple of management. Petroleum project economics and risk analysis workshop. International petroleum business program 01 participation. Central concepts in petroleum economics justeringskopi petrad. Department of economics, university of oxford b economics team bp january 2015 abstract. Previously, he worked as an independent petroleum economist engaging in all aspects of petroleum economics including commercial evaluations.
Petroleum economics free download as powerpoint presentation. Petroleum economics and engineering crc press book this book explains how to apply economic analysis to the evaluation of engineering challenges in the petroleum industry. Energy management 0206 march 2015 dubai, 1620 march 2015 moscow, 2327 march 2015 istanbul. Petroleum economics masseron jean editions technip. Written by experts with both academic and professional experience in refinery operation, design, and evaluation, petroleum refining technology and economics, fifth edition is an essential textbook for students and a vital resource for engineers. The petroleum industry is arguably the most influential and important industry in the world. Financial modeling and petroleum project economics. This is a practical energy training course which enables delegates from all technical and commercial disciplines to understand the theories and met corporate training programme five or ten days introduction.
Petroleum refining at a glance petroleum refining is a unique and critical link in the petroleum supply chain, from the wellhead to the pump. This book offers a comprehensive introduction to the economics of oil and natural gas extraction and production along with a detailed discussion of pricing, taxing, and markets of these most valuable commodities. Introduction to petroleum and petrochemical businesses 2nd round june 29 july 01, 2020 shinawatra tower iii, vibhavadi rangsit road. Orlandi encyclopedia of life support systems eolss these shows structural characteristics, relations of strength, economic and political dynamics which cannot be immediately attributed to the traditional life cycle of an industry and which indeed can no longer be repeated. Course philosophy petroleum professionals need to have a thorough understanding of the value chain and the global competitive landscape in which they operate.
Introduction to petroleum economics an introduction to petroleum economic is a reallife, concise and hugely enjoyable in depth look at one of the key fundamentals of the oil and gas industry. Economics of worldwide petroleum production petroskills. In recent years new technologies have changed the global picture in the oil and gas industry and the frontiers of exploration are continuously driven to harsher andor more environmentally sensitive areas. This course will explain how to apply tools from petroleum economics which will help in making better decisions for upstream oil and gas opportunities.
Petroleum economics net present value internal rate of return. Downstream sectors and petroleum economics international petroleum business program who should attend this program is intended for managers in the many functional areas of the international petroleum and natural gas industry, such as exploration, production, re. Expanded basic petroleum economics training course. Within north america, recent demand for refined petroleum products has been flat to declining and is forecast to continue on this path. Introduction to petroleum economics is about the process of gathering project data, calculating whether a project should proceed and delivering recommendations. An introduction 1978 chap, 2,6 and 7 the energy value chain utc investment series trinidad and tobago unit trust corporation.
His research interest covers the oil, gas, and refining industry and is related to cost assessment, fiscal analysis, infrastructure modeling, and valuation studies. Economics is the primary link between basics of petroleum. The certificate in petroleum economics is the ideal course for both individuals and corporate groups to develop this crucial knowledge. Petroleum economics is one of the most influential players in the world economy, so having a comprehensive understanding of this vital area is key for anyone working within the oil and gas or energy industries. This course is an excellent introduction to the fundamentals of petroleum economics. This latest edition of a bestselling text provides updated data and addresses changes in refinery. To get these materials, please email proof of purchase e. The report provided detailed examinations of important issues that affected the revenues of petroleum producers, refiners, marketers, and consumers. Economics for oil and gas projects under conditions of certainty and uncertainty. Petroleum refining and the prod uction of ulsg and ulsd october 24, 2011 page 2 2.
Introduction to probability distribution and petroleum project economics. The optimization of the time profile of revenues from individual fields is discussed along. Pages in category petroleum economics the following 62 pages are in this category, out of 62 total. Discussion progresses from an introduction to the industry, through principles and techniques of engineering economics, to the application of economic methods. The oil prices remain sluggish for the last months when this issue was raised in december 2015. When purchasing this book for an ereader, the excel files and supplementary pdf content found on the cdrom, which accompanies the hard copy of the book, will not be part of the ebook download.
Access study documents, get answers to your study questions, and connect with real tutors for ptrl 3025. The others, including petroleum refining, technology and economics, by james gary, glenn handwerk, and mark kaiser, refining processes handbook, by surinder parkash, and even the venerable petroleum processing handbook, by bland and davidson. Use the tools and concepts on petroleum investment projects a field development project an exploration project be able to understand the concepts used and do the economic calculations needed in the case study. Fundamentals programme overview of petroleum economics. Company executives involved in upstream and midstream businesses, petroleum business development, operational managers who deal with petroleum economic aspects in their daily lives, government and parastatal officials involved in policy, monitoring and regulation of petroleum enterprises. Fundamentals of petroleum economics course content.
This handson and practical course takes you through the fundamental financial aspects of a petroleum company. Petroleum economics and engineering crc press book. Petroleum economics at university of new south wales. Upstream petroleum fiscal and valuation modeling in excel. Production rate profile differences around the world. The other links add value to petroleum mainly by moving and storing it e. Petroleum economics net present value internal rate of.
Saudi arabia responded with its longterm vision 2030 economic transformation. Petroleum economics school of minerals and energy resources. The 5 days sophisticated training course in petroleum economics is an entrylevel course designed to bridge gaps in your knowledge and give. In physical science terminology, energy is the capacity for doing work, e. Petroleum economics involves the application of the techniques of economic analysis at every stage in the development of oil and gas exploration and.
The economics of deep drilling in oklahoma 1 introduction this report examines the economic implications for oklahoma of the natural gas industrys ongoing shift to deep resources in order to meet the growing domestic demand for natural gas. The petroleum industry is one of the most influential players in the world economy. Fundamentals of petroleum economics net present value. Economics is the primary link between decisionmaking and profitable operations. The petroleum economics monthly was published by pkverleger llc for thirtyfive years. Request pdf fundamentals of petroleum economics decisions on investment in any oil or gas field development will be made on the basis of its value. International petroleum business program 01 participation in. Oil and gas companies compete for resources and reserves around the globe. This book is a valuable tool in understanding the dynamics of the oil industry from both a broad and specific economic perspective. Petroleum economics provides an overview of the key financial and economic means of project performance provides a set of risk assessment tools including sensitivity, scenario, decision tree and mote carlo simulation analysis introduces the participant to stakeholder analysis frameworks to identify stakeholder groups and their concerns. This training course teaches you the fundamental financial aspects of a petroleum company.
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