Course #05 – 3 days (Entry to Intermediate level) - Reserves Definition/Assessment and Project Economics
Who should attend:
Geoscientists (Geology, Geophysics & Petrophysics); Reservoir, Petroleum & Drilling Engineers, Anyone interested in Petroleum Economics
- 65% Teaching & 35% Practical
- Definition of Resources & Reserves. Reserves vs. Contingent vs. Prospective Resources. What differentiates them (technically & economically)
- Fundamentals of Petroleum Economics. Cashflow, Risk/Ranking, Technical & Economic merits.
- Overview of world resources/reserves and production trends.
- Volumetric Resources Computation. Emphasis on Net-Pay and the selection of cut-offs, fluid contacts and transition intervals and how to account for these in Resource estimates
- Deterministic and Probabilistic approaches to resource and reserves computations
- Key economic definitions, CAPEX, OPEX, ABEX, Royalties and Taxes and Cost Recovery.
- Cashflow modelling and Economic metrics to screen and benchmark projects.
- Participants split into teams for tutorial, where they have to optimise a FDP and carry out a cashflow simulation to determine its viability
- Participants/ Teams given 20 minutes to present evaluation results, conclusions & recommendations on final day
- Non-refundable 10% of fees payable within 10 working days of Registration Request
- Balance payable 15 working days before start of the course
This Course is offered under the auspices of
as course ECO 700. Visit www.petro-teach.com
for registration & Petro Teach conditions