Upstream Petroleum Economics: Reserves, Risks, Fiscal Regimes & Decision Criteria

Business Context

An economic view of the upstream petroleum business facilitates good understanding of the nature of the oil and gas business within the context of petroleum investments determinants, pricing strategies and the challenges/opportunities in the global E&P industry. This course will expose the participants to the most widely used techniques in economic and profitability analysis for studying the changing economic structure of the global industry, roles of current key players (OPEC, OECD, national governments, multinationals, etc) and how to predict international petroleum supply and price by different institutions.

Who Should Attend

Petroleum professionals

What You Will Learn

Course Content

• Fundamental economic principles underlying upstream business decisions
• Elements and determinants of oil and gas investment decisions
• Worldwide oil and gas fiscal instruments and contract terms
• Upstream business decision making criteria under risk and uncertainty
• Petroleum Valuation Theory, Finance & Methods
• Risk and Uncertainty Management Methods and Simulation Analysis

What You Will Know After Attending

Learning Methods

Course presentation will be in the form of interactive seminar utilizing lectures, commercial software, videos, case studies and syndicate group exercises. At the end of the course the participants will be able to understand

1. why some economic decision variables e.g. oil and gas prices, reserves, production profiles, taxation and fiscal policies and the environment are important in petroleum E&P decisions,
2. learn and apply principles of petroleum economics and the commonly used economic decision methods to facilitate the ability of E&P business to generate profit and grow,
3. understand approaches to quantify uncertainty and risk in petroleum decisions. 

Course Venue

Grand, yet inviting, The Ritz-Carlton, Doha is an exceptional Qatar hotel that combines extravagant elegance with the warmth of a traditional Arabian welcome.

The very definition of an opulent Middle Eastern paradise, and an idyllic setting for business or leisure travelers alike, The Ritz-Carlton, Doha hotel's accommodations feature:

• 374 well-appointed guestrooms, each with sea or golf course views

• 61 suites and 42 club rooms with free internet connection

• Eight exceptional restaurants and bars featuring fine local and international cuisine

• A world-class Spa and modern fitness center

• Indoor and outdoor swimming pools

• Two ballrooms, seven meeting rooms and a fully equipped business center

• A 235-slip marina with club house for boats and 8 slip marina for jet-ski

About the Presenter

Omowumi O. Iledare (Ph.D., B.Sc. Petroleum Eng.; M.S., Energy Resources) is professor of petroleum economics and policy research and the director of the Energy Information and Data Division of the Center for Energy Studies, Louisiana State University and also an adjunct professor of petroleum economics at the University of Ibadan, Institute of Petroleum Studies (IPS) in the University of Port Harcourt, and the African University of Science and Technology (AUST), Abuja, Nigeria.

He is a specialist in global oil and gas industry structure, conduct and performance analysis; oil and gas exploration and production economics and policy research; the environmental effects of oil and gas exploration and production; taxation and regulation of the oil and gas industry; and refinery and petrochemical economics and policy.

About Oil & Gas Academy

Our vision is to make world-class continuing education available to all petroleum professionals at an affordable price.

Our Petroleum Schools held in different parts of the world cover a wide variety of technical and management courses in E&P taught by a truly international faculty consisting of highly qualified and experienced Learning Consultants.