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6 - OGE - Oil & Gas - General/Miscellaneous

OGE 121 - Petroleum Project Economics & Risk Analysis

Code	Start Date	Duration	Venue
OGE 121	07 October 2024	5 Days	Istanbul	Registration Form Link
OGE 121	11 November 2024	5 Days	Istanbul	Registration Form Link
OGE 121	16 December 2024	5 Days	Istanbul	Registration Form Link
OGE 121	27 January 2025	5 Days	Istanbul	Registration Form Link
OGE 121	24 March 2025	5 Days	Istanbul	Registration Form Link
OGE 121	19 May 2025	5 Days	Istanbul	Registration Form Link
OGE 121	14 July 2025	5 Days	Istanbul	Registration Form Link
OGE 121	08 September 2025	5 Days	Istanbul	Registration Form Link
OGE 121	03 November 2025	5 Days	Istanbul	Registration Form Link
OGE 121	29 December 2025	5 Days	Istanbul	Registration Form Link

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Course Description

This practical course covers the fundamental aspects of upstream petroleum economics and risk analysis through a variety of lectures and workshop exercises. It will allow participants to construct computer-based economic models, incorporate relevant cash-flow data and draw conclusions to aid decision-making. It also provides practical guidance in the application of the techniques of the economic analysis currently used in the oil & gas industry. Techniques for predicting profit, production, costs, and cash flow enable the analyst to evaluate decision alternatives for optimum results. Understanding economic indicators, risk and uncertainty, different economic structures such as tax regimes and production sharing contracts, enhances the quality and the value of economic analysis.
The course will include a number of exercises aimed at enhancing each participant capability to conduct various economic evaluations. In addition each participant will attempt to develop spreadsheet calculations of various economic analyses. At the end of the workshop each participant will be given a comprehensive spreadsheet program that can carry out a complete economic evaluation including a sensitivity analysis.
Additionally, the course assumes no or limited prior knowledge of the topics covered in the course. New concepts and tools are introduced gradually to enable delegates to progress from the fundamental to the advanced concepts of economic evaluation.

Course Objectives

Understanding various economic terms used in the oil & gas industry
Understanding how to develop economic models of various petroleum fiscal regimes
Carrying out cash flow analysis and determine economic indicators
Carrying out different economic analyses for petroleum related projects
Evaluating and quantify risks and uncertainties
Making the right investment decision in the presence of risk
Carrying out a comprehensive economic evaluation study for any petroleum related project including risk analysis and sensitivity study using spreadsheet

Who Should Attend?

Engineers
Geologists
Accountants
Technicians who need to learn how to conduct economic evaluation and to understand the role of petroleum economics in investment decision making.
Supervisors & Managers in the Planning, Exploration, Production, Projects, Financing and Technical Departments in Oil & Gas Companies

Course Details/Schedule

Day 1

Cash Flow Analysis

Familiarization with Economic terms.
Calculation of Capex, Opex and Revenue
Cash Flow Calculation
Petroleum Fiscal Regimes
Tax & Royalty Regime
Production Sharing Contracts (PSC)
Depreciation Methods
Nominal & Real Cash Flow
Sunk (Past Exploration)Costs
Project Financing

Day 2

Economic Indicators

Present Value & Discount Factor
Net Present Value
Internal Rate of Return
Effect of Project Delay
Payback Period
Maximum Exposure
Capital Productivity Index
Evaluating Incremental Projects
Comparing Indicators

Day 3

Risks and Uncertainties

Expected Monetary Value
Quantifying Risk and Uncertainty
Decision Tree Analysis
Added Value of Data acquisition
Farm-out Decision
Probability Analysis
Sensitivity Analysis
Spider and Tornado Diagrams
Probability Distribution
Monte Carlo Simulation

Day 4

Setting up Spreadsheet Calculation

Setting up an Integrated Economic Model of a Typical Oil Field Development Project including Sensitivity Analysis

Day 5

Setting up Oil Field Development Model

Team Participation to Evaluate Different Project Economics Using the Model

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SAHARA Group Training and Consultancy INC (in Turkish: SAHARA Group Eğitim ve Danışmanlık AŞ)

Tax Office: Beyoğlu (Istanbul/Turkiye,Tax No: 7390525151 (Vergi Dairesi: Beyoğlu (İstanbul), Vergi No: 7390525151)

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(Click Category to List Courses)

6 - OGE - Oil & Gas - General/Miscellaneous

OGE 121 - Petroleum Project Economics & Risk Analysis

Course Description

Course Objectives

Who Should Attend?

Course Details/Schedule

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Day 2

Day 3

Day 4

Day 5

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