Petroleum Economics And Risk Analysis Training Course

Introduction

Navigate the complexities of petroleum projects with our essential Petroleum Economics and Risk Analysis Training Course. This program is designed to equip you with the fundamental knowledge and practical skills to evaluate project economics and manage risks effectively, ensuring sound investment decisions. In today's volatile energy markets, mastering petroleum economics and risk analysis is crucial for organizations seeking to optimize project portfolios and achieve sustainable profitability. Our petroleum economics training course provides hands-on experience and expert guidance, empowering you to apply cutting-edge analytical techniques for practical, real-world applications.

This petroleum economics and risk analysis training delves into the core concepts of discounted cash flow analysis, decision tree modeling, and Monte Carlo simulation, covering topics such as economic indicators, sensitivity analysis, and uncertainty quantification. You'll gain expertise in using industry-standard tools and techniques to petroleum economics and risk analysis, meeting the demands of modern energy operations. Whether you're a financial analyst, project manager, or business development professional, this Petroleum Economics and Risk Analysis course will empower you to drive strategic investment decisions and optimize project outcomes.

Target Audience:

• Financial Analysts
• Project Managers
• Business Development Managers
• Reservoir Engineers
• Geologists
• Economists
• Investment Analysts

Course Objectives:

• Understand the fundamentals of petroleum economics and risk analysis.
• Master discounted cash flow (DCF) analysis and economic indicators.
• Utilize decision tree modeling and scenario analysis.
• Implement Monte Carlo simulation for uncertainty quantification.
• Design and build robust economic models for petroleum projects.
• Optimize project valuation using sensitivity and scenario analysis.
• Troubleshoot and address common challenges in economic modeling.
• Implement risk management and mitigation strategies.
• Integrate economic analysis with reservoir and production data.
• Understand how to manage large-scale petroleum investment projects.
• Explore emerging techniques in petroleum economics (e.g., real options analysis, machine learning).
• Apply real world use cases for petroleum economics in various project scenarios.
• Leverage economic analysis tools and frameworks for efficient evaluation.

Duration

10 Days

Course content

Module 1: Introduction to Petroleum Economics and Risk Analysis

• Fundamentals of petroleum economics and risk analysis.
• Overview of economic evaluation and risk management principles.
• Setting up an economic modeling framework.
• Introduction to economic analysis tools and methodologies.
• Best practices for petroleum economics.

Module 2: Discounted Cash Flow (DCF) Analysis

• Mastering discounted cash flow (DCF) analysis and economic indicators.
• Utilizing net present value (NPV) and internal rate of return (IRR).
• Implementing payback period and profitability index.
• Designing and building DCF models.
• Best practices for DCF analysis.

Module 3: Decision Tree and Scenario Analysis

• Utilizing decision tree modeling and scenario analysis.
• Implementing decision nodes and probability branches.
• Utilizing scenario planning and sensitivity analysis.
• Designing and building decision tree models.
• Best practices for decision analysis.

Module 4: Monte Carlo Simulation

• Implementing Monte Carlo simulation for uncertainty quantification.
• Utilizing probability distributions and random sampling.
• Implementing sensitivity analysis and tornado diagrams.
• Designing and building Monte Carlo models.
• Best practices for Monte Carlo simulation.

Module 5: Economic Modeling

• Designing and build robust economic models for petroleum projects.
• Utilizing cost estimation and revenue forecasting.
• Implementing fiscal regime analysis and taxation.
• Designing and building comprehensive economic reports.
• Best practices for economic modeling.

Module 6: Project Valuation Optimization

• Optimizing project valuation using sensitivity and scenario analysis.
• Utilizing break-even analysis and economic limits.
• Implementing risk-adjusted valuation techniques.
• Designing and building valuation optimization plans.
• Best practices for project valuation.

Module 7: Troubleshooting Economic Challenges

• Troubleshooting and addressing common challenges in economic modeling.
• Analyzing economic data and model results.
• Utilizing problem-solving techniques for resolution.
• Resolving common economic evaluation errors.
• Best practices for troubleshooting.

Module 8: Risk Management and Mitigation

• Implementing risk management and mitigation strategies.
• Utilizing risk identification and assessment.
• Implementing risk response planning and monitoring.
• Designing and building risk management frameworks.
• Best practices for risk management.

Module 9: Integration with Reservoir Data

• Integrating economic analysis with reservoir and production data.
• Utilizing production forecasts and reserve estimates.
• Implementing integrated economic and technical models.
• Designing and building integrated economic plans.
• Best practices for data integration.

Module 10: Large-Scale Investment Projects

• Understanding how to manage large-scale petroleum investment projects.
• Utilizing project management tools and techniques.
• Implementing program evaluation and reporting.
• Designing scalable economic solutions.
• Best practices for project management.

Module 11: Emerging Techniques in Petroleum Economics

• Exploring emerging techniques in petroleum economics (real options analysis, machine learning).
• Utilizing real options analysis for project flexibility.
• Implementing machine learning for economic forecasting.
• Designing and building advanced economic systems.
• Optimizing advanced applications for specific use cases.
• Best practices for advanced applications.

Module 12: Real-World Economic Use Cases

• Applying real world use cases for petroleum economics in various project scenarios.
• Utilizing economic analysis for upstream development projects.
• Implementing economic analysis for midstream infrastructure investments.
• Utilizing economic analysis for downstream refinery projects.
• Implementing economic analysis for LNG and gas monetization.
• Best practices for real-world applications.

Module 13: Economic Tools Implementation

• Leveraging economic analysis tools and frameworks for efficient evaluation.
• Utilizing economic modeling software and databases.
• Implementing data visualization and reporting tools.
• Designing and building automated economic workflows.
• Best practices for tool implementation.

Module 14: Monitoring and Metrics

• Implementing economic project monitoring and metrics.
• Utilizing economic performance indicators and KPIs.
• Designing and building monitoring systems for economic projects.
• Optimizing monitoring for real-time insights.
• Best practices for monitoring.

Module 15: Future Trends in Petroleum Economics

• Emerging trends in economic analysis technologies and applications.
• Utilizing digital transformation and automation in economic modeling.
• Implementing advanced analytics and forecasting.
• Best practices for future economic management.

Training Approach

This course will be delivered by our skilled trainers who have vast knowledge and experience as expert professionals in the fields. The course is taught in English and through a mix of theory, practical activities, group discussion and case studies. Course manuals and additional training materials will be provided to the participants upon completion of the training.

Tailor-Made Course

This course can also be tailor-made to meet organization requirement. For further inquiries, please contact us on: Email: info@skillsforafrica.org, training@skillsforafrica.org  Tel: +254 702 249 449

Training Venue

The training will be held at our Skills for Africa Training Institute Training Centre. We also offer training for a group at requested location all over the world. The course fee covers the course tuition, training materials, two break refreshments, and buffet lunch.

Visa application, travel expenses, airport transfers, dinners, accommodation, insurance, and other personal expenses are catered by the participant

Certification

Participants will be issued with Skills for Africa Training Institute certificate upon completion of this course.

Airport Pickup and Accommodation

Airport pickup and accommodation is arranged upon request. For booking contact our Training Coordinator through Email: info@skillsforafrica.org, training@skillsforafrica.org  Tel: +254 702 249 449

Terms of Payment: Unless otherwise agreed between the two parties’ payment of the course fee should be done 14 working days before commencement of the training.