Cash flow analysis in the petroleum industry (definition of cash flow, deriving net cash flow under tax/royalty systems and production sharing contracts, depreciation methods, inflation, sunk costs). Economic indicators (net present value, rate of return and other indicators). Fiscal analysis (the nature of petroleum fiscal regimes, the effects of fiscal regimes on exploration and field development decision making, economic analysis of fiscal regimes in Australia and Indonesia). Risk analysis (risks in each oil industry investment phase, project risk and expected value, sensitivity analysis, probability analysis, Monte Carlo simulation, probabilistic reserves estimates, probabilistic economics, portfolio analysis, asset management, risk and discount rates). Risk management (standards, establishing the context, identifying risk, analyzing the risks, assessing and prioritizing risks, treating the risks, insurance practices in the oil and gas industry, monitoring project risks), case study (mini project).
Bachelor Degree in Oil and Gas Engineering (180)
Hussein K. Abdel Aal, Mohammed A. Al Sahlawi, Petroleum Economics and Engineering, CRC Press 3ED. 2013
| content serial | Description |
|---|
| 1 | Introduction to petroleum economics |
| 2 | Reserve estimate methods |
| 3 | Definition of cash flow, net cash flow and rate of return |
| 4 | Interest rate, simple and complex |
| 5 | Fiscal analysis and fiscal regimes and types of projects |
| 6 | Risk analysis |
| 7 | 7th Week Exam |
| 8 | Sensitivity analysis, probability analysis |
| 9 | Monte Carlo simulation, probabilistic reserves estimates |
| 10 | Portfolio analysis |
| 11 | Asset management |
| 12 | 12th Week Exam / Insurance practices in the oil and gas industry |
| 13 | Monitoring project risks |
| 14 | Decline curve and forecast of oil and gas project |
| 15 | Revision |
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