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Petroleum Project Economics and Risk Management

MDT International
Course summary
Length: 5 days
Location: Aberdeen, Dubai, Kuala Lumpur, London
Rating: (16 Reviews)
Course home page: Link
Course type: Open / Scheduled

Course description

Petroleum Project Economics and Risk ManagementPetroleum project economics and risk management - 5 day Training Course

This Petroleum project economics and risk management course is a highly interactive training solution that introduces delegates to a structured approach in project investment appraisal, with a specific focus on the oil and gas industry.

The course covers a number of topics in the project appraisal and evaluation area of the petroleum industry, including:

  • applying economic and risk management tools in oil and gas project proposals
  • calculating the financial viability of risk-affected expenditure proposal projects
  • evaluating the ranking of different projects
  • preparing convincing project proposals that will win approval from management, partners and the government
  • improving outcomes at both the project and business level

The course employs a large number of case studies, industry-specific scenarios and practical exercises in order to provide delegates with realistic situations within which to apply the skills learned.

Suitability - Who should attend?

This Petroleum project economics and risk management course is designed for delegates with little or no experience in project investment appraisal.

The figures who have attended recent editions of this course include:

  • Explorationists and petroleum/reservoir engineers
  • Asset managers, project managers and facilities engineers
  • Information systems managers and project leaders
  • Management accountants, finance and contracts specialists
  • Government and advisory executives
  • Service/supplier company personnel

Pre-requisites
In order to complete the practical exercises, attendees should bring their own laptop ensuring that they have Microsoft Excel pre-installed. Prior knowledge of spreadsheets is required.

Outcome / Qualification etc.

Participants on this course are eligible for 35 hours of CPD accreditation on completion. 

Training Course Content

Basic concepts

  • Identifying project cash flows and sources of information

How to calculate project benefits and interpret the answer

  • Project payback
  • Net Present Value (NPV)
  • Internal Rate of Return (IRR) and the cost of capital
  • Profitability Index (PI)
  • Strengths and limitations of each method

Project ranking - how to choose the best alternative

How to optimise expenditure

How to deal with inflation and with exchange rates

Taking account of taxation

Accounting measures versus economic measures

  • Understanding other financial criteria for decision making
  • Balancing short term versus long term business objectives

Dealing with risk and uncertainty

  • How to identify and quantify project risks and uncertainties
  • Sensitivity analysis
  • How to draw and interpret spider and tornado diagrams
  • Calculation of maximum exposure as a risk measure
  • Decision trees and the calculation of Expected Monetary Value (EMV)

Economics, risk and decisions - decision points are risk points

  • Decision points for oil fields and gas fields
  • Risk and probability definitions and concepts
  • Risk identification, measurement and management
  • Forecasting as risk management
  • Assumptions, sensitivities and risk premiums

Exploration and appraisal decisions, uncertainty, risk and exposure

Monte Carlo simulation

Economic models and spreadsheet design
 
Development decisions

  • Workscope definition and options
  • Decommissioning economics and risks
  • Cost estimating and contingencies
  • Financing options
  • Construction contracts

Further development decisions and economic cut-off

Preparing convincing project proposals

Post-project appraisal

Expenses

Course Fee: £2750.00 (+ VAT for attending UK courses). Fees include your attendance at the relevant training course/s and the provision of a comprehensive training course manual, course completion certificate, plus lunch and refreshments during the training day. Fees do not include accommodation and living costs.

MDT International can also provide this course on an in-house course basis, to discuss please submit enquiry. 

About provider

MDT International - Finance, Commercial & Management Courses for the Oil & Gas Industry

We deliver commercial training courses in most major established and emerging international oil and gas hubs. Whether you're taking part in an open course, or benefiting from the customised experience of our in-house training, you know what you’ll learn from some...


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Contact info

MDT International

MDT International Ltd
45 Albert Street
AB25 1XT Aberdeen

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www.mdtinternational.com


Reviews

Emmalee, GDF   |   20/08/2015
The course was very useful for those people involved in all areas of project decision making. Great explanations of technical terms and uses.
          (4)
Mohamed, Petrofac   |   17/08/2015
I work as a drilling engineer and one of my duties is to provide well cost estimations. This training allowed me to have a wider vision of how my cost estimates are used by economists to take decision on projects
          (5)
Shamma, Kuwait Oil Company   |   14/08/2015
This is my second course with MDT, it’s a good experience. Training instructor was very good, he knows how to present the information in an attractive way and has good experience in GCC oil companies which made the discussions very interesting
          (5)
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Reviews
Petroleum Project Economics and Risk Management
Course rating
          (4.7)
Based on 16 reviews
Case Study