ECO 703
Economic Evaluation of Oil & Gas Development Projects
Economic Evaluation of Oil & Gas Development Projects
COURSE SCHEDULE
| Code | Date | Location | price (€)* |
|---|---|---|---|
| ECO 703 | 19 - 20 Nov 2025 | Online | 850 |
| ECO 703 | 3 - 4 Dec 2025 | London | 1990 |
| ECO 703 | 9 - 10 Jul 2025 | Online | 850 |
| ECO 703 | 21 - 22 Nov 2024 | Online | 850 |
| ECO 703 | 16 - 17 Jun 2025 | Kuala Lumpur | 1990 |
| ECO 703 | 5 - 6 Dec 2024 | London | 1990 |
* Prices are subject to VAT and local terms. Ph.D. students, groups (≥ 3 persons) and early bird registrants (8 weeks in advance) are entitled to a DISCOUNT!
COURSE OVERVIEW
This course is designed for learning the basics of petroleum economics and project selection. Several main concepts that will be covered are the net present value, cash flow basics, common economic indicators, CAPEX, OPEX and Internal Rate of Return. The course mainly uses Excel to Practice the hands on experience in building two real economic evaluation models and solving case study based examples.
COURSE OUTLINE
2 days
Day 1
o Introduction
o Why do we carry out economic evaluation?
o Different types of projects throughout the life of an oil/gas field
o Various phases of Exploration-Production
o Main economic evaluation gates for projects
o Economic concepts (CAPEX, OPEX, cash flow, NPV, IRR …)
o Evaluation process
o Profitability indicators
o Risks and uncertainty in oil and gas investment
Day 2
o Introduction to Spreadsheet Calculation
o Simple Cash Flow using Excel
o Hands on Exercise on Economic Evaluation
o Sensitivity Analysis (Spider Plot)
INSTRUCTOR
Dr. Babak Moradi
Babak Moradi has accumulated over 15 years of reservoir and petroleum engineering experience. Babak started in 2006 as reservoir engineering in Iranian Central Oil Company (ICOFC) in Iran where he worked on 10 onshore fields. He joined to TENCO (E&P company) in 2016 to Manage a team of over 30 engineers and geoscientists to assess the FDP of two non-operated offshore HPHT carbonate gas fields and two giant onshore operated carbonate oil fields in the Middle East. He went to Malaysia on 2019 and started working for PETRONAS as senior reservoir engineer to Lead a team of engineers and geoscientists to appraise & develop four sandstone offshore non-operated and operated oil fields. IOR/EOR optimization in a giant offshore sandstone operated field and production data analysis in an offshore sandstone field. Currently he is working with PETROXIN Ltd in London as consultant reservoir engineer to perform reservoir simulation and prepared the appraisal and production well targets and depletion plan – including bottlenecking and network analysis, Water flood optimization to achieve the maximum recovery of economic hydrocarbons and minimize the greenhouse gas emissions in the North Sea.
FAQ
DESIGNED FOR
This course is useful for analysts, engineers, and managers involved in the process of exploration decision making, as well as those interested in oil and gas exploration business.
COURSE LEVEL
Intermediate
LEARNING OBJECTIVES
o Understand various economic terms used in the Oil & Gas industry like time value of money, cash-flow models, CAPEX, OPEX, IRR, NPV
o Understand how to develop economic models of oil and gas projects
o Perform cash flow analysis, different economic evaluation for oil and gas development projects and determine economic indicators
o Analyze the economic results and carry out sensitivity analysis,
REGISTER
Registration is now OPEN!
* Prices are subject to VAT and local terms. Ph.D. students, groups (≥ 3 persons) and early bird registrants (8 weeks in advance) are entitled to a DISCOUNT!
For more details and registration please send email to: register@petro-teach.com
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